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Ambrish Kumar: Delivering Cutting-edge Logistics Solutions with ‘LogYcode’
AmbrishKumar: Delivering Cutting-edge Logistics Solutions with 'LogYcode'
DrAmbrish goes beyond logistics and brings a perfect company with perfectsolutions to and brining tremendous changes in logistics.
The emergence of high-performancetechnology is creating strong ripples in the logistics sector of India andtaking its growth to the next level. Presently, the logistics industrycomprises around 13% of India's GDP that is more than USD 300 billion. Servingas a backbone to the Indian economy, it is set to witness boundless growth andundergo a paradigm shift. This progress is creating numerous small-scale andlarge-scale business opportunities for new entrepreneurs.
But becoming a top logistics entrepreneurin this competitive environment entails a lot. To become one, you need to makea lot of sacrifices and do the hard work. Dr Ambrish Kumar, an innovator ofIndian logistics, knows how to design his destiny and has taken the plunge tobe a part of the logistics growth story in the country. He initiated LogYcodeTech Solutions in March 2018 and introduced a new logistics revolution throughinnovation, dedication, and technology.
Dr Ambrish is a die-hard entrepreneur atheart and holds years of expertise in the industry. Before venturing intoentrepreneurship, he was assigned several senior management positions in thediverse domains of Logistics, CFS, Supply Chain Management, Warehousing,Operations and so on, in organizations namely S.A. Consultants and Forwarders,APM Terminals India, and Eastern Cargo Carriers India.
In academics, he did P.HD. in Economics,written thesis on 'Industrial Policy and Industrial Growth', accompanied by M.A. in Economics and an MBA in International Trade.
Recently, Dr Ambrish was on the hot seatof Startup City, where he discusses his professional journey, LogYcode Tech,and more.
Here are editedexcerpts.
Tell us a bitabout LogYcode Tech Solutions and itsservices.
Based in Delhi NCR, LogYcode TechSolutions entered the market to digitize and automate the logistics and supplychain industry. The web and mobile application 'LogYcode' is an e-cloud basedplatform that can be accessed from anywhere, anytime and using any device thatis connected to the internet. The portal facilitates and encompasses almost allprerequisites and mandates of the freight forwarding cycle. It provides themost cost-effective match between freight forwarders, exporters, importers onone hand and air freight carriers on the other. It enables precisely instantand spot price comparison between the preferred carriers for anyorigin-destination pair based on the customers' query input and consequentlyplaces booking with the opted carrier. The customer is given the convenience ofpreparing Master and House Airwaybills, Manifests within the portal. E-transmissionof FWB and FHL data through EDI is capacitated which permits end to endreal-time tracking of shipments. Finally, the invoices can be retrieved fromthe portal after the execution of the shipment. The customer can refer to airfreight published tariffs and surcharges of all carriers from pan-Indialocations.
What was yourrationale behind establishing this company?
I find happiness in thinking differently,taking calculated risks in life that lead to futuristic goals. Along with aperceptive inclination towards technology, artificial intelligence, and humandevelopment, the impetus to establish LogYcode is attributed to three majorfactors:
- Primarily, the increasing logisticsand supply chain cost compels for integration and digitalization of theprocesses offering single-window solutions.
- Another major aspect is attributed toimproving Government policies and initiatives to bolster the logistics industryand multiply global trade opportunities and investments.
- The e-commerce industry is overhaulingthe conventional logistics industry. It offers an absolute customer experiencelike effortless booking of consignments, smooth transaction gateways,transparent tracking, and accurate delivery predictions.
What problem doesyour company solve?
LogYcode provides an outright digital andintegrated experience of the whole freight forwarding process as an alternativeto the scattered transaction gateways that a freight forwarder usually goesthrough. Our experience states that cost efficiency is directly proportional tothe digital integration of processes, which leads to lesser head costs,visibility of the most competitive pricing options, disentangled paperlessdocumentation, archiving of data in e-clouds, reduction in turnaround time, andso on. By syncing all real-time air cargo data into one cloud platform, thecustomers ought to get what they want: speedy and reliable deliveries,exceptional transparency, and an overall hassle-free logistics experience.
What makesLogYcode Tech Solutions stand out inthe market?
LogYcode is online software with multipleuser access and does not require any installation or troubleshoot hassles. Thecustomers are given the convenience of both web and Mobile App versions whichare synced and equipped with all features. LogYcode offers the only Mobile Appservice in India offering unique features like real-time Air Freight live ratecomparisons, booking of cargo through App, preparation and management ofAirwaybills.
What is yourcurrent business model?
LogYcode's business model can be statedas an amalgamation of technology with logistics, using state-of-the-arttechnology to develop a logistics e-marketplace wherein a freight forwarder,shipper, exporter, an importer can shop and ship their cargo and avail supplychain services like transportation, warehousing, customs brokerage, etc.
Who are yourclients? How do you build a successful customer base?
LogYcode works on a B2B model serving thelogistics needs of the freight forwarding fraternity. With regular feedback andsuggestions from the users, development, and improvement of the software is anever-ending process. We have managed to encompass almost all general andground-level requirements a freight forwarder seeks thereby attracting usersnot just in India but many from around the globe.
Shed light onyour team.
The team comprises of personnel withphenomenal experience and background in varied fields of logistics, freightforwarding, airlines, shipping lines, terminal handling, Information Technology,and Finance.
Vikas Kharbanda, the co-founder of thecompany is an important part of the team. He has been highly instrumental intaking the concept and implementation promptly. He is a professional with over19 years of experience in various functional areas including Sales, CustomerSupport, Operations, Marketing, and Business Unit leadership.
How has been yourjourney so far?
LogYcode is comparatively a very newstart-up in the Logistics arena. The idea of LogYcode was conceptualized inNovember 2017, and the company was incorporated on March 2018. Since then, thejourney has been a very enthralling affair. Within just a short span of 8months, LogYcode recorded approximately 964 users across India.
Tell us aboutyour milestones and achievements.
- The recognition and acceptance ofLogYcode as a unique revolutionary innovation by the customers just within 8-10months itself is the biggest achievement.
- We have close to 1400 customerson-board across India and globally.
- We are now a proud member of IAMAIand #startupindia working towards the growth of the digital economy.
What next for thecompany? What do you see happening in the company industry in 2019-20?
LogYcode is proactively leaping ahead inits hunt to meticulously establishing Predictive Analytics with the support ofArtificial Intelligence, Machine Learning and Internet of Things (IoT) in itsongoing and future endeavors. Besides, we are also planning to work towards amost needed blockchain technology with utter transparency, visibility, andaccuracy.
What advice can you give entrepreneurs whowant to venture into the same domain in the future?
Think differently and futuristicallyabout an innovation that will serve a market even a couple of decades from now.The anticipation should be such that the innovation and its implementation aretargeted to the right market coupled with niche opportunities.