The food supply chain in India is very fragile and we regularly see fluctuations in demand and inflation of prices. There is huge waste generation in the supply chain of specially fresh produce because of its perishable nature. In a supply chain, there are majorly three flows – Information, Material and Money.
Flow of information shapes the supply chain. With our apps and vendor portals, real-time information is available to our farmers and suppliers. Our apps provide advisory services based on soil monitoring systems and even prediction through our Outgrow app. We also intend on providing seed-to-sale service to our farmers. This ensures value addition at each stage of the supply chain. This way everyone has access to information to benefit from and the customer gets a better and reliable supply of produce. We also have forecasting engines based on Machine Learning (ML) and Artificial Intelligence (AI) for predicting demand and price fluctuation that enable us to better plan crop cycles and bridge the gap between demand and supply, eliminating waste from the supply chain (to an extent of more than 25%). We are developing a comprehensive tech stack to connect each and every stakeholder in the supply chain and synchronize it together to make a unique model of a Phy-Gital supply chain.
We have simplified the handling of fresh produce in this supply chain by optimizing our operations and logistics. In a traditional mandi system, fresh produce changes hands at least seven times! With our deeper sourcing networks, we are touching the delicate produce only twice – first by the farmer, and second by our grading staff in our collection center to ensure the produce passes through the quality parameters. By reducing pressure damages, we are able to increase shelf life and reduce wastage.
We have also developed our infrastructure by building cold storage for highly perishable SKUs and invested in state-of-the-art automation solutions for material handling. We have advanced softwares for our distribution hubs to communicate with each other. An Advanced Shipment Notice is sent to the receiving hub before receiving the article. We operate a fleet of 400+ trucks every day. We have highly optimized our last mile delivery by efficient route planning through our delivery app to ensure it reaches our customers on time. This also aims at enhancing customer food experience and giving them the freshest produce on the dining table. As we are an impact organization, we are including and increasing the count of EVs in our logistic fleet to reduce carbon footprint.
The most important part of any supply chain is funding the trades with a right financial solution. We have integrated this also with our tech-stack in our supply chain. We have onboarded most of our suppliers, big farmers and aggregators on credit line which enables them to get instant credit – this means that they are getting paid for their goods instantly while WayCool or customers get a credit period.
The synchronization of the three pillars of supply chain in the most advanced way to reduce fresh produce waste by more than 25% and impact farmers by educating them about the power of technology and information to grow in a sustainable way is the Phy-Gital model of supply chain developed and nurtured by WayCool. As we look around, many new players, and even old giants, are adopting it which is the biggest contribution of WayCool in this space.
What gets measured gets managed and improved as well! To measure, one needs to keep track of work being done and the value being created, continuously. This becomes a huge challenge when there is a dearth of information which unfortunately is the case usually. A few charts, tables or calculations may not be enough to give clear insight… Continue reading How Our Comprehensive Tech Stack Improves the Food Supply ChainRead More