Source.One partners with Cargo Exchange to strengthen its Supply Chain operations
Improve the efficiency of supply chain operations by reducing shipping uncertainty.
Mumbai, September 20, 2022 – Source.One,
a cutting-edge commodity distribution platform, announced their partnership
with Cargo Exchange, a real time cloud-based Transportation Exchange
Platform, to improve the efficiency of their supply chain operations by
lowering shipping uncertainty. Source.One is licensing Cargo Exchange’s
platform and making it more suitable for a 3rd party logistics service
provider.
The company has
recognised the difficulties that buyers encounter, such as their inability to
prepare for unloading and schedule labour owing to a lack of vehicle tracking. Tracking of shipments were required as they have almost millions worth of goods on the road
at a given point in time. The partnership will help Source.One to improve
productivity and enhance service quality for the buyers. This will also enable
shipment tracking to be more accessible and
exchange information with the buyers for better planning of labour, space and
capital.
Arun Singhal, Founder
& CEO, Source.One, said, “Manufacturers are still facing challenges in procurement of
their raw material by wasting hours, and stockists, in inventory liquidation.
We are glad to collaborate with Cargo Exchange to Simplify Commodity
Distribution in order to streamline the process. This partnership will simplify
procurement for our customers and provide real time tracking and E-way Bills
extension. This will help in identification of
reliable transporters for urgent time-bound and challenging shipments.
Jagdeesan
VijayKumar, Founder & COO, Cargo Exchange said, “This
partnership is taking the company’s mission of simplifying Procurement,
Placement, Position, PoD and Payment (Procure to Pay automation) with a digital
freight exchange by providing price discovery, reduced shipment costs,
optimized service levels, improved efficiency with intelligent automation, and
365-degree real-time visibility”
About
Source.One: Source.One simplifies raw material procurement of 1000s of MSMEs,
enabling them to focus on growth and sales, rather than procurement. The
company has created a unique model around the Distribution ecosystem, providing
not only the best prices, but also layers of logistics and credit to its
offering. In a short span, it has grown to become India’s leading player in
petrochemicals distribution and has added Packaging as a new line of business,
to support its vertical expansion plans. In future, the company plans to expand
into more value-chains similar to petro-chemicals, and the chemicals domain.
With a strong team of engineers, bankers and data enthusiasts, Source.One has
created a highly intuitive platform to serve Indian MSMEs. The company has
developed deep expertise around MSMEs, and has partnered with 5 tech Giants,
along with niche fintech and logistics tech Companies, to solve data problems
around Indian MSMEs. Its data machine allows for a seamless onboarding and
transaction for any MSME across the country.
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