What was the ideation and conceptualization behind iThink?
In 2016, e-commerce was booming, and the existing solutions failed to meet the customers' unmet needs - resulting in unfavorable conditions for e-commerce to grow. Logistics seemed to be a very exciting and challenging turning path wherein we would have an opportunity to cater to a bigger real-life problem. We realized that e-commerce sellers were not given priority and importance by courier partners as they did not have the volume. Hence, this was the biggest obstacle for e-commerce brands to grow in the Indian market.
Another challenge that e-commerce faced was that if they opted for a single courier partner then they could be serviceable in a limited region only, and the onboarding process and customer support was also not efficient.
We decided on bringing multiple courier partners under one platform, which would give them more pin codes to deliver their products. We also decided to offer the best tech platform and customer support, and we developed incredible products and services that would help the small and medium e-commerce sellers to grow their business.
What are the solutions offered by iThink Logistics?
Some of our core offerings include:
Reducing RTO with our 6-step Patented NDR: This feature will reduce customers’ returns and avoid fake comments from couriers. Our focus is to increase the delivery rate of shipment.
Dedicated account manager: Customers need to contact only one POC to solve any courier issues - which they won't get while working with a direct courier.
Early COD remittance: We offer in 1, 2, and 3 days.
Your own branded tracking page: White label.
Real Time Notification: With SMS, E-mail and WhatsApp.
User-friendly and Insightful Dashboard: With Insightful Pincode analysis, we help customers to focus on which demographics to work on more, and which locations are performing poorly for them; and where is good customer acceptance and where it is not.
How is iThink Logistics helping regional players unite and work in coordination?
With the help of technology, we are stitching all the regional partners and city specialist courier partners together and providing them with a platform through which they will be able to cater their services to customers (e-commerce sellers) that they were not able to do before. This will not only help the courier partners, but will also help the most important person in the entire e-commerce market - the delivery boy.
Currently, the delivery boys are the lowest paid in the e-commerce ecosystem and under-recognized as well. So, through partnering with regional players we are also healing the last mile space that will create an opportunity for better wages for the delivery boys.
We will soon launch a new tool that will change the way order confirmation is taking place as it will be completely automated through WhatsApp. We will also help customers predict RTO, even before dispatching the order, and along with that they can convert their COD order into a prepaid order.
What are the challenges and opportunities for iThink?
Challenge: All the brands would want to have same day or maybe a few hours delivery. They would like to have complete visibility over their shipments and want more control over every delivery.
Opportunity: Every brand is committing to a “greener movement” hence, they would want to partner with logistics companies that are trying to reduce their carbon footprint. E-commerce sellers are increasing in the Indian market, so we expect demand in the logistics industry to increase. We may even consider providing cargo services in the future.
How have iThink solutions brought efficiencies in logistics?
There is a huge increase in the high return ratio of over 30% in the e-commerce space. More than half the packages not being delivered can be attributed to logistics and delivery network inefficiencies. As a solution, our innovative AI assistance - a technological platform for virtual calling - establishes a connection between the online vendor, the logistics partner, and the end consumer, allowing for effective shipment tracking. iThink Logistics’ novel key account manager fabricates the system with a dedicated human touch and constant connectivity, which translates into a hassle-free experience for the client as they are just a call away whenever a delivery discrepancy occurs.
Today, we have over 5000+ sellers, a daily volume of 25,000+ shipments, a comprehensive reach to all parts of the country demonstrated by 26,000+ pin codes served, and a global coverage of 180 countries.
What could be a possible game-changer in the supply chain industry of India?
Darkstore and Fulfilment centres for online sales is going to be a primary game-changer in the next 5 years in India.