Sea News (SN) interviewed Freddy Ingemann (FI), Founder & CEO of Moscord, which has created waves by becoming the new ‘Maritime Amazon’. Below, he speaks about why the industry is welcoming of such a platform and how it has taken off.
SN – Moscord is a novel concept, What range of services does Moscord offer its users?
FI – At Moscord, we are helping brand owners to sell products to the ship supply market in the most direct, scalable and leanest way. We are also supporting ship operators to buy from these suppliers in the most efficient way by purchasing multiple products from multiple manufacturers and consolidating them into a single purchase order.
Moscord enables Ship Operators to purchase ship supply products directly from manufacturers and industrial suppliers at wholesale prices instead of wasting time and money on middlemen and resellers. Our services allow ship operators to purchase multiple products from multiple manufacturers in a single purchase order. Moscord handles all logistics, product consolidation and last mile deliveries. Suppliers can sell products directly to ship operators in a standardised and scalable way lowering unit prices for buyers and increasing margins for suppliers. Suppliers can eliminate obstacles by selling directly to the ship supply market.
SN – Why do you think this is the right time for such a platform?
FI – I have been in the ship supply business for 20 years and have seen in the last three years that the business is ready for a change now. The ship supply business is in many aspects still very conservative so we have a huge optimisation potential. The issues we have in our business today are:
- Poor data quality, many incorrectly described products resulting in miss-deliveries (20%).
- Big differences in product quality/price relation.
- A complicated and conventional procurement process that takes up a lot of process cost and resources.
- Sub-optimisation in the procurement process and supply chain.
- Product prices too high because of high cost in the ordering process and supply chain.
- Lack of transparency for Ship Owners.
- Too many items are transported over long distances.
- Very low sales volumes resulting in very high prices compared to other high volume businesses (industrial)
SN – What benefits can ship owners, managers & operators expect from using Moscord?
FI – Ship operators will be allowed to buy products directly from manufacturers and industrial wholesalers through the most lean and optimised sales and distribution channel. A very important advantage is that they will always get what they order and know where the products are coming from, which is not always the case in the ship supply business.
SN – How did the idea for Moscord take off? How forthcoming has the industry been to the concept?
FI – The idea came up some years ago when I talked with some manufactures of marine products who told me that very often they don’t know who are buying their products because of too many middle men in the business and the mark ups that happen through the process. Thus, prices are really high before the products reach the end user. We have seen a very high interest from manufacturers and suppliers, on the buyer side, the interest has been great as well. I feel that people have been waiting for a concept like Moscord.
SN – How do you envisage becoming the ‘Maritime Amazon’ – a phrase that has really caught on?
FI – I am really happy we got this one – and I think it is fair as well. My many years in Ship supply and being with ShipServ from the beginning was a good base to develop this concept. We are the first company out there with a complete service set-up covering both the sales channel and the complete fulfilment service including invoice management. So there is no doubt that THE MARITIME AMAZON will be Moscord. But we have to remember that to develop such a platform in the ship supply business requires a lot of additional services compared to the original Amazon.
SN – Do you expect to see competitors coming up with similar platforms? How will you set yourself apart?
FI – We will for sure see different kinds of competitors coming up especially if we achieve success. We will set ourself apart through execution and delivery quality. This is always the key in such a business. To copy the idea is not difficult, the challenge lies in the execution of it.
SN – Are there aspects that Moscord will exclusively offer to its users? How so?
FI – We are in the process of coming up with a plethora of service offerings exclusively for our customers, which we will execute in the near future. We have a road map which are keeping confidential for now, but all will be revealed soon.
SN – What do you envision for the future?
FI – That we will obtain a good market share by keeping up the quality. We will also be constantly introducing new services which will improve the Ship Supply business.
SN – Lastly, what is your advice to start-ups in the industry?
FI – Focus on quality before scaling up and be sure you understand the business. IT is not as important as understanding what the customers need and how to get the processes to work.
Sea News Feature, April 3