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Your company’s sales are slipping. How can you turn things around?

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If you are a marine engineer, you know how competitive and challenging the industry can be. You need to design, build, and maintain ships, offshore platforms, and other marine structures that meet the demands of your clients and the regulations of the authorities. But what if your company's sales are slipping? How can you turn things around and regain your edge in the market? In this article, we will share some tips on how to use new technology to improve your marine engineering projects and boost your sales.

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Thomas Wittlin

Managing Director at Docking Partner bv / Managing Director at IMBC Group
Jun Aldin Ortillo

Radio surveyor. Compass Adjuster, Marine Electronics Technician, Shipyard Safety Supervisor , Certified Xero Advisor
Praneet Mehta

Entrepreneur II Ex-Chief Engineer at Anglo Eastern II Mission to create a community for seafarers where right guidance…

1 Assess your current situation

The first step to turn things around is to assess your current situation and identify the root causes of your sales decline. You need to analyze your strengths, weaknesses, opportunities, and threats (SWOT) in relation to your competitors, customers, and the external environment. You also need to evaluate your current technology portfolio and see if it is up to date, efficient, and reliable. You may find that you are losing sales because your technology is outdated, incompatible, or prone to failures.

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Thomas Wittlin

Managing Director at Docking Partner bv / Managing Director at IMBC Group
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Regulating your company sales is based on several factors. Revenue is not equal to profit. I guess we all understand same. Less can sometimes be more. However, the principle is to grow a company, therefore also, but not limited to, the revenue and the profits So, you will have to assess from where you are coming and then you will know where you can potentially go. Then you surely also need to feel the market. part 2 below

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Jun Aldin Ortillo

Radio surveyor. Compass Adjuster, Marine Electronics Technician, Shipyard Safety Supervisor , Certified Xero Advisor
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Wow, everything is well said here. After you assess, you rebuild your reputation. Assess your Sales Team as well, there might be a mole or corrupt individual.

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Praneet Mehta

Entrepreneur II Ex-Chief Engineer at Anglo Eastern II Mission to create a community for seafarers where right guidance is easily available, with an aim to develop purpose driven leaders.
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The feedback from your current customers can be an eye opener. Are you able to retain your old customers? What is your USP, that they would stay with you and not buy from others ? Are you assessing the leads, I mean how is the business coming? If you do not know, from where you got your customers and if you do not know the right things you have done, you will surely lose the battle.

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2 Adopt new technology

The next step is to adopt new technology that can help you improve your marine engineering projects and increase your sales. Researching and selecting the best technology solutions that suit your needs, budget, and goals is essential. Digital twins, artificial intelligence (AI), and the internet of things (IoT) are examples of new technology that can benefit marine engineers. Digital twins are virtual replicas of physical assets that simulate their performance, behavior, and condition in real time. AI is the ability of machines to perform tasks that normally require human intelligence. IoT is a network of devices that communicate and exchange data with each other and with the internet. These technologies can help you optimize design, testing, and maintenance processes; automate data analysis and quality control; monitor and control assets remotely; and collect valuable information that can improve efficiency, safety, and customer satisfaction.

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3 Implement and integrate new technology

The final step is to implement and integrate new technology into your marine engineering projects and processes. You need to plan and execute your technology adoption strategy carefully, taking into account the technical, organizational, and human factors that may affect your success. You also need to ensure that your new technology is compatible and interoperable with your existing technology and systems, as well as with your clients' and partners' requirements. You may need to train and educate your staff and stakeholders on how to use and benefit from new technology, as well as address any potential challenges or resistance.

By following these steps, you can use new technology to improve your marine engineering projects and boost your sales. You can also gain a competitive advantage and a reputation for innovation and excellence in the industry. New technology can help you deliver better value, quality, and service to your customers, as well as create new possibilities and opportunities for your business.

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4 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Your company’s sales are slipping. How can you turn things around?

1

2

3

4

1 Assess your current situation

2 Adopt new technology

3 Implement and integrate new technology

4 Here’s what else to consider

Marine Engineering

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Your company’s sales are slipping. How can you turn things around?

1

2

3

4

1 Assess your current situation

2 Adopt new technology

3 Implement and integrate new technology

4 Here’s what else to consider

Marine Engineering

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