Today, companies that witness a steady movement of goods in its operations understand the utility of track-and-trace solutions that can help them visualize their shipments real-time. With the advent of machine learning and data analytics in the supply chain context, the optimization of logistics processes has gone up by a notch.
Loginext, a logistics technology company is providing a data-driven solution to plan and manage dispatch schedules, delivery routes, and optimize capacity to its fullest extent - while also providing real-time insight into the location of freight being moved.
“The idea is to enable enterprises and companies to move their goods better. If you have to go from point A to point B and you have to move a thousand units of shipments, the time taken for moving the shipment can be optimized and reduced - the distance the truck moves can be reduced and the route it takes can be optimized in terms of traffic, minimizing delays and detention,” said Dhruvil Sanghvi, CEO at Loginext.
Loginext works towards realizing a solution that would help businesses utilize their capacity better, and offer better freight rates to their clients. “In the customer-facing angle, you can serve your clients better, because it is more likely that you will reach your destination on time and that will increase customer satisfaction,” said Sanghvi.
The company also holds historical records of all the movements that businesses make and all the goods that they ship. Using that data, Loginext analyzes ways through which businesses could have done the process better - like with assigning certain shipments to specific people who are cut out for the job, or by utilizing vehicle capacity to the fullest extent. This goes into its data analytics feedback loop, revitalizing its solution and making it better over time.
The founding duo of Loginext come from a data intelligence background and had been involved in the logistics sector, helping out clients on cutting costs in logistical processes while increasing efficiency. “We understood the actual gap between what the industries have right now and what they could be if they use the available technology better,” said Sanghvi.
When Loginext was in its nascent stages, its founders worked at the grassroots level to make sure its initial clients could relate to their solution. They used to travel on their client’s delivery trucks, and measure up their solution against the existing legacy solutions that the client was using up to that point. The results ended up showing the edge Loginext had over the legacy systems, leading to them converting and holding onto their clients better.
Throughout its journey, the company has been obsessed with its product-market fit, and looks to collaborate with its customers to constantly improve its offering. Loginext’s solution is now heavily customized, and can help businesses identify its prime end-customers based on order history and engagements - leading them to realize the worth of individual end-customers and thereby serve them better.
Sanghvi insisted that the company never had a problem with finding traction, as its solution was simple and unique enough for clients to keep coming in. Over the years, Loginext has grown to be picky about the clients it chooses to work with, rather than accommodating companies just to grow its numbers.
“It is not just about the point of entry and gaining more clients, but also about keeping them for a long time. We are a very technology driven company and we can give the basics to many people who come to us,” he said. “But we like to go after and interact with large enterprises that are looking to do something new or innovative and are looking to associate. The idea again is to build for the future.”
The company also invests a lot of manpower into its marketing team where they explain how Loginext can create value, and communicate the best use of their technology. “The market has to open up for everyone, only then can we sustain and grow. It is about awareness and conversion, and not just conversion,” said Sanghvi.
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