One peculiar problem of the logistics and freight industry in India is that the entire space of freight execution is driven through asset ownership. This asset ownership comes from fragmented owners. With less than 5% owners contributing to total supply in the country and goods being transmitted by large and small shippers alike, this fragmented industry is completely run by offline intermediaries. In fact, as per Rajesh Yabaji, founder of BlackBuck, an online marketplace for logistics transactions, any and all aspects of this industry is offline today.
“Even something as basic as cash disbursement is offline. Large sums of cash exchange hands in an offline fashion today. These are the basic problems that need to be addressed, which led us to look at this space from a business perspective.” The solution was finding an online marketplace along with Chanakya Hridaya and Ramasubramaniam B in 2015, in order to simplify this complex maze of full truckload (FTL) freight transportation in a vast country like India.
Today, this online marketplace works with 500 companies, both SMEs and corporates, boasting of some 120,000 logistics partners operating in over 300 locations.
The idea was fuelled by Rajesh’s work experience at ITC where he was able to look at the transformation of the entire supply chain vertical. That’s where he kind of fell in love with this industry.
Today, BlackBuck has built technology, which integrates both demand and supply onto a single platform. At the click of a button, customers can track and analyse the shipments carried out on the platform. On the other hand, truckers across the country are empanelled on the platform through a mobile application, with a real time visibility of customers’ demands. More than 110,000 trucks on the BlackBuck are helping solve the problem of availability of demand/supply and fair and transparent pricing for both customers and truckers.
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