Ambrish Kumar: Delivering Cutting-edge Logistics Solutions with ‘LogYcode’
Ambrish Kumar: Delivering Cutting-edge Logistics Solutions with ‘LogYcode’
Dr Ambrish goes beyond logistics and brings a perfect company with perfect solutions to and brining tremendous changes in logistics.
The emergence of high-performance technology is creating strong ripples in the logistics sector of India and taking its growth to the next level. Presently, the logistics industry comprises around 13% of India’s GDP that is more than USD 300 billion. Serving as a backbone to the Indian economy, it is set to witness boundless growth and undergo a paradigm shift. This progress is creating numerous small-scale and large-scale business opportunities for new entrepreneurs.
But becoming a top logistics entrepreneur in this competitive environment entails a lot. To become one, you need to make a lot of sacrifices and do the hard work. Dr Ambrish Kumar, an innovator of Indian logistics, knows how to design his destiny and has taken the plunge to be a part of the logistics growth story in the country. He initiated LogYcode Tech Solutions in March 2018 and introduced a new logistics revolution through innovation, dedication, and technology.
Dr Ambrish is a die-hard entrepreneur at heart and holds years of expertise in the industry. Before venturing into entrepreneurship, he was assigned several senior management positions in the diverse 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 seat of Startup City, where he discusses his professional journey, LogYcode Tech, and more.
Here are edited excerpts.
Tell us a bit about LogYcode Tech Solutions and its services.
Based in Delhi NCR, LogYcode Tech Solutions entered the market to digitize and automate the logistics and supply chain industry. The web and mobile application ‘LogYcode’ is an e-cloud based platform that can be accessed from anywhere, anytime and using any device that is connected to the internet. The portal facilitates and encompasses almost all prerequisites and mandates of the freight forwarding cycle. It provides the most cost-effective match between freight forwarders, exporters, importers on one hand and air freight carriers on the other. It enables precisely instant and spot price comparison between the preferred carriers for any origin-destination pair based on the customers’ query input and consequently places booking with the opted carrier. The customer is given the convenience of preparing Master and House Airwaybills, Manifests within the portal. E-transmission of FWB and FHL data through EDI is capacitated which permits end to end real-time tracking of shipments. Finally, the invoices can be retrieved from the portal after the execution of the shipment. The customer can refer to air freight published tariffs and surcharges of all carriers from pan-India locations.
What was your rationale behind establishing this company?
I find happiness in thinking differently, taking calculated risks in life that lead to futuristic goals. Along with a perceptive inclination towards technology, artificial intelligence, and human development, the impetus to establish LogYcode is attributed to three major factors:
- Primarily, the increasing logistics and supply chain cost compels for integration and digitalization of the processes offering single-window solutions.
- Another major aspect is attributed to improving Government policies and initiatives to bolster the logistics industry and multiply global trade opportunities and investments.
- The e-commerce industry is overhauling the conventional logistics industry. It offers an absolute customer experience like effortless booking of consignments, smooth transaction gateways, transparent tracking, and accurate delivery predictions.
What problem does your company solve?
LogYcode provides an outright digital and integrated experience of the whole freight forwarding process as an alternative to the scattered transaction gateways that a freight forwarder usually goes through. Our experience states that cost efficiency is directly proportional to the digital integration of processes, which leads to lesser head costs, visibility of the most competitive pricing options, disentangled paperless documentation, archiving of data in e-clouds, reduction in turnaround time, and so on. By syncing all real-time air cargo data into one cloud platform, the customers ought to get what they want: speedy and reliable deliveries, exceptional transparency, and an overall hassle-free logistics experience.
What makes LogYcode Tech Solutions stand out in the market?
LogYcode is online software with multiple user access and does not require any installation or troubleshoot hassles. The customers are given the convenience of both web and Mobile App versions which are synced and equipped with all features. LogYcode offers the only Mobile App service in India offering unique features like real-time Air Freight live rate comparisons, booking of cargo through App, preparation and management of Airwaybills.
What is your current business model?
LogYcode’s business model can be stated as an amalgamation of technology with logistics, using state-of-the-art technology to develop a logistics e-marketplace wherein a freight forwarder, shipper, exporter, an importer can shop and ship their cargo and avail supply chain services like transportation, warehousing, customs brokerage, etc.
Who are your clients? How do you build a successful customer base?
LogYcode works on a B2B model serving the logistics needs of the freight forwarding fraternity. With regular feedback and suggestions from the users, development, and improvement of the software is a never-ending process. We have managed to encompass almost all general and ground-level requirements a freight forwarder seeks thereby attracting users not just in India but many from around the globe.
Shed light on your team.
The team comprises of personnel with phenomenal experience and background in varied fields of logistics, freight forwarding, airlines, shipping lines, terminal handling, Information Technology, and Finance.
Vikas Kharbanda, the co-founder of the company is an important part of the team. He has been highly instrumental in taking the concept and implementation promptly. He is a professional with over 19 years of experience in various functional areas including Sales, Customer Support, Operations, Marketing, and Business Unit leadership.
How has been your journey so far?
LogYcode is comparatively a very new start-up in the Logistics arena. The idea of LogYcode was conceptualized in November 2017, and the company was incorporated on March 2018. Since then, the journey has been a very enthralling affair. Within just a short span of 8 months, LogYcode recorded approximately 964 users across India.
Tell us about your milestones and achievements.
- The recognition and acceptance of LogYcode as a unique revolutionary innovation by the customers just within 8-10 months itself is the biggest achievement.
- We have close to 1400 customers on-board across India and globally.
- We are now a proud member of IAMAI and #startupindia working towards the growth of the digital economy.
What next for the company? What do you see happening in the company industry in 2019-20?
LogYcode is proactively leaping ahead in its hunt to meticulously establishing Predictive Analytics with the support of Artificial Intelligence, Machine Learning and Internet of Things (IoT) in its ongoing and future endeavors. Besides, we are also planning to work towards a most needed blockchain technology with utter transparency, visibility, and accuracy.
What advice can you give entrepreneurs who want to venture into the same domain in the future?
Think differently and futuristically about 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 are targeted to the right market coupled with niche opportunities.