Optimization of the supply chain is a multi-faceted exercise. From warehousing decisions, to optimized transportation management, it takes a lot to stay ahead in the game.
StoreNmove, a Third Party Logistics Provider aims at achieving maximum optimization and efficiency in supply chain management. With OLog, it’s flagship technology platform for logistics, StoreNmove is a revolution in itself.
It all started when Vasanth Immanuel, Jay Panneerselvam and YSP Balraj joined hands to exploit technological opportunities which had potential to drastically alter the course of supply chain industry. The three co founders share a common connection with Asian Paints. While, Vasanth and Jay, both engineers from National Institute of Industrial Engineering (NITIE) were campus recruited by Asian Paints, Balraj who joined as an initial investor was a service provider to Asian Paints. The trio makes a strong & diverse team with complementary skill sets. Their combined experience of more than 30 years in Supply Chain, Finance, IT, Consulting, Marketing, Administration and managing B2B business provides a strong founder base to the company.
It is never easy to take the road less travelled but that is what makes all the difference.
Both Vasanth and Jay had sumptuous jobs in hand, while Vasanth was heading the Supply Chain and Administration for Asian Paints’ Chennai facility, Jay was handling IT and Marketing for a global company which was based out of Singapore, but the passion on starting something made them quit their plush jobs and embark on this journey and since then there is no looking back.
Well, Rome wasn’t built in a day and same goes for great ventures, they spend 70-80 hours a week on their work. StoreNmove identifies the loopholes in the supply chain industry in India and provides solution to it through technological intervention.
Indian Logistics Industry is highly fragmented and unorganized. The market is strikingly dominated by middlemen (brokers / commission agents). The middlemen and multi-layered brokerage boost up the cost by significant percentage.
In this new emerging age of e-commerce, logistics is one function which still hasn’t gone online (majorly for B2B companies which move goods). The founders were quick enough to realize the need of the hour and willing to take the risk of challenging the traditional methods (phone / paper) used for ordering, tracking and delivery acknowledgement.
Hence, Olog was born as an attempt towards freeing the logistics market from clutches of the tentacles of octopus named “middleman”. It provides an e-market for trucks. It aims to integrate all logistics providers directly with the clients (B2B) thereby building transparency in the system.
OLog’s Technology platform has been built to manage scalability. Client orders flow into the system from the web portal / app. Each order gets broadcasted through the Vendor app to each vendor based on route. The vendor who accepts the order first gets to fulfill the order.
StoreNmove was incorporated as an LLP in 2012 and it grew into a Limited company in 2014. It currently provides 3 different services
• OLog – An E-market for Trucks
• Warehousing and VAS
• End-to-end Distribution
Based out of Chennai, it presently operates from Chennai, Bangalore and Kolkata.
As big results require big ambitions, StoreNmove envisions a 10 fold increase in all it’s numbers by June 2016.
The company plans to expand pan India to 20 more cities. Industry-wise, OLog is also opening up the E-commerce clients for their intercity operations.
Their future plans are proof enough that for them, even the sky is not the limit.