Source.One partners with Cargo Exchange to strengthen its Supply Chain operations
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.
About Cargo Exchange: Cargo Exchange is a real time cloud-based Transportation Exchange Platform (TEP) designed to automate the end-to-end transportation activities in the supply chain. Combining ease of use with industry-leading capabilities, we enable you to reduce freight costs, optimize service levels, and automate processes to run your logistics operations more efficiently. The Platform delivers value via Price Discovery, Improvement in Operational Efficiency via Process Automation, providing real time end-to-end visibility and Business Intelligence among loads of other features.