Inventory Locator Service,® LLC (ILS) recently signed a memorandum of understanding with Danaos Management Consultants S.A. (Danaos) to collaborate on the development of a cloud-based procurement and management service for the shipping industry.

Together the companies will develop a platform called MarineHub^sm, a network of companies in the marine industry that will facilitate planned maintenance and procurement of spares for ship owners, managers and suppliers worldwide using cloud technology.

George Zdravecky, ILS vice president of Supply Chain Solutions, recently spoke about the benefits of creating such a network at the International Marine Purchasing Association (IMPA) conference in London. "Creating an environment that connects the content, systems, people and processes will benefit all companies in the marine industry,” said Zdravecky. “The network we’re planning has the potential to minimize cost for spares and maintenance while increasing visibility and continuity of supply."

"Global business will be conducted via professional networks," stated Mr. Dimitris Theodossiou, managing director of Danaos. "The MarineHub^sm network will fully automate the vendor-to-buyer interaction, aiming to minimize ship supplier’s cost by not only selecting the correct price but also by ordering the right quantity."

A subsidiary of Boeing, ILS operates in the marine, aviation and defense industries and has extensive experience developing cloud-based networks.

The agreement with Danaos was announced recently at the IMPA conference in London. Danaos is one of the largest maritime management software and services companies worldwide.

About Inventory Locator Service,^® LLC, a Boeing Subsidiary: (www.ILSmarine.com)

Since 1979, ILS has provided information via its global electronic marketplace ILSmart to enable customers in the aerospace, defense and marine industries to buy and sell parts, equipment and services. ILSmart is the most active business-to-business electronic marketplace serving these industries. ILS also provides Supply Chain Management Software solutions and powerful aftermarket trending tools.

Headquartered in Memphis, Tenn., ILS has offices and representatives in Boston, Dallas, Dubai, Frankfurt, Istanbul, London, Los Angeles, Miami, New York, Paris, Philadelphia, Phoenix, San Diego, Seattle, Shanghai, Singapore and St. Louis. ILS is a Boeing subsidiary.

Danaos Management Consultants S.A.

Danaos has a rich 25+ year history (incorporated in 1986) and is the leading maritime I.T. supplier serving over 500 customers globally. Danaos development strategy has been to integrate Shipping Expertise, modern Management principles and the latest Technology, into flexible and user-friendly Software, whilst maintaining Hardware, Vendor and System Software independence. Danaos offers an integrated suite of software modules that automate all the functions of a shipping company (accounts and financials, chartering and voyage planning, vessel operations, bunkering, freight collection, spares, stores and provisions supply cycles, technical, planned maintenance, vessel monitoring, repairs and dry-dockings, crew and MGA, full ISM follow-up), linked with an integrated communications package (email, fax, telex, GSM, BlackBerry, smartphones, tablets) with comprehensive MIS and user-defined reporting and incorporating user-defined KPIs and their follow-up.

Danaos is headquartered in Piraeus, Greece, and has offices and representatives in the USA, UK, India, Norway, Cyprus, Hamburg, Dubai, Istanbul, and Singapore.