Bringing down transport expenses is better possible with shipping the goods away. The shipping industry though offers transport services at the least possible price, it is rife with logistic delays and hence price escalation. In many cases, clients abandon their carts when they realize shipping charges have amounted to way more than what they have expected. If technology can automate most of the intellectual work, then why not shipping software solve the bottlenecks of a routine process. iThink, to bridge the gap between this deficit and demanding needs, has developed AI-enabled shipping software solutions to cater to a diverse segment of users. Analytics Insight has engaged in an exclusive interview with Zaiba Sarang, Co-founder, of iThink Logistics.

1. About iThink & idea of establishing the brand

The creation of iThink was an on-the-job trigger that set forth a logistics revolution. I, Vipul (co-founder), and Bharat were already providing technology solutions to various e-commerce enterprises. With the help and assistance of our fellow co-founders Nikul and Paresh, both of whom had a knowledge base in logistics, we were able to ascertain and evaluate the hurdles in and around the e-commerce logistics sector in India. The central concerns within the market were difficulty in managing the multiple logistic partners, brittle omnichannel capabilities, no dedicated single point of contact, and coherent technical support. Overall, the e-commerce ecosystem manifested various challenges that entailed higher shipment returns, managing multiple courier partner logins, and continued evaluation of consignment progress.

iThink is basically the unification of answers to all of these problems into a single platform driven by technology. For a frictionless service, iThink combines the benefits and competencies of numerous courier partners. This is done to address the fundamental issue of last-mile delivery. A centralized gateway that contains simple billing via automation assists sellers in drastically lowering return to origin (RTO) rates. The whole process is expedited with the aid of artificial intelligence calling assistance and AI follow-up assistance, which engages with the key stakeholders (buyers, sellers, and logistics partners) and ensures that the parcel is delivered on time.

2. USP of the brand

The USP, as they say, is a very commercial term for an idea that can be the pillar of your business. Today, we are the only logistics aggregation company to possess a patented technology to help logistics companies reduce return ratios. The core thought at iThink was to look at the granular level and improve the discrepancies within the logistics sector. The wheels of the logistics sector are being sped into evolution by the transformation of the rapidly changing e-commerce industry. Our unique selling point at iThink is also our commitment to improving last-mile delivery. iThink Logistics provides free API integrations with the top e-commerce platforms such as Amazon, eBay, Uni commerce, Vinculum, Magento, Shopify, WooCommerce, Big Commerce, and OpenCart to all of its customers. At iThink, we are committed to becoming the go-to solution for all logistics-driven business requirements by bringing the globe together for commerce in a seamless way.

3. Expansion plans & Business Model

We've been bootstrapped from the outset. The previous year's revenue was close to $30 million. Every year, we make great strides forward. We want to achieve unicorn status within the next two years.

4. What are the challenges and opportunities you visualize shortly?

The current problems are a direct consequence of the higher cost of fuel, which in turn has led to an increase in the price of freight forwarding. The opportunity lies in the regional warehousing and fulfillment sector, which provides excellent value for money by reducing shipping costs while simultaneously accelerating the process. This component is where the value lies.

5. Women are breaking the glass ceiling, however, the service industry can certainly make room for more leaders on the top? What's your take on it?

My experience as a business owner has led me to believe that men and women have access to an equal number of opportunities in the field of supply chain management. Despite this, the figures show that women hold just ten percent of the most senior supply chain management roles, which is a percentage that is considered to be rather low. I hope with all of my heart that in the future, a growing number of women will take on leadership roles and make important contributions to the logistics industry.

6. Is there a message you wish to share with the industry?

iThink was founded on the premise of scratching the surface and unearthing solutions for logistics operations in India and throughout the globe? Our vision is to have an open logistics network underpinned by adaptive technology that enables businesses to make their products available to any customer globally at any coordination. We think that everyone should be able to have a presence on the global map of online commerce and should be equipped to enjoy the convenient experience of shopping online. The objective was to make international shipping as simple as domestic shipping. We're at the heart of the e-commerce logistics industry revolution by working with the right partners and offering Darkstores, Aggregation, and international logistics to help companies give their customers the best experience possible. There is a need to look at a more granular level to understand the exact pain points within the industry. The e-commerce industry right now is going through a very important phase. It has become very important that the logistics sector becomes a channel par excellence that can extend its reach towards newer markets and become a catalyst for overarching growth for the whole e-commerce industry.

7. What according to you will be the primary business game-changer for the next 5 years in specialization

The emerging e-commerce market in India will be a game-changer in the near future, as it has increased both pressure and potential for the logistics business. In the coming days, delivery speed, shipment progress visibility, and penetration into India's most rural districts will be crucial. We would require a broad-based approach where different courier partners are utilized based on their strong suits in the context of a specific delivery location.

8. About Zaiba journey & iThink Logistics

As a young girl, Zaiba had great aspirations. In the journey toward her goal of being an entrepreneur, there were many challenges, but there were many allies who helped her to thwart those and march ahead. She always wanted to change lives and envisioned ways to do so. One of her realizations was that a 9-5 job would just fulfill her own requirements, but a business that she created as an entrepreneur would help elevate and improve countless lives.

During college, Vipul (co-founder) and Zaiba were interested in developing software products. Their efforts contributed to the initiation of Depasser Infotech, where they served major brands. As part of this chapter, they worked closely with e-commerce businesses and evaluated their challenges. They realized that the e-commerce ecosystem faced several issues, including increased shipping returns, coordinating numerous courier partner logins, and periodic reviews of consignment status. Zaiba's friends and fellow co-founders, Paresh and Nikul, joined the team with their expertise in logistics. This created iThink Logistics, a company founded by five friends—Zaiba, Paresh, Bharat, Vipul, and Nikul. iThink Logistics is the resourceful result of marrying logistics with technology. It is the only logistics aggregation company with a patented method for lowering return rates, and they are the only ones doing it.