Hyderabad: LogisticsNow, Hyderabad-registered Logistics Intelligence Platform provider catering to the road transport sector, plans to foray into rail logistics and is also one step away from serving the export and import space by entering into coastal shipping.
The company’s LoRRI platform (lorri.in) currently has an integrated visibility spanning over Rs 10,000 crores of freight spend, more than 20,000 routes nationally, over 80 truck-types, and 650 plus transporters, inter-connected in one machine learning-driven platform.
LogisticsNow founder & CEO Raj Saxena told Telangana Today, “We are looking at an expansion in the coming years, catering to manufacturers across levels, scaling up into road, rail and shipping in an 18-36 months horizon. We also aim to cater to the needs of the stakeholders across all the districts of India.”
The company is also closely working with logistics parks across the country to bring transport capacity to the operators, manufacturing companies and governments. Long-haul and medium-haul capabilities have been built on the platform already to cater to the e-commerce needs.
“There are efforts now to create capabilities in the short-haul (local delivery) on to the platform in the near-term. The company has recently received in-bound inquiries from a long-haul large e-commerce company,” he informed.
Online national grid
The company is creating a national logistics grid by aggregating 20,000 routes in India including several routes in Telangana. Transporters can look at the traffic to and from a specific location. “Our platform is unique as it gives insights at the route level. Transporters can map by route through the platform. The company has introduced the LoRRI Platform and a sub-component called Benchmark,” he said.
The platform democratises the discovery of the transporter by 800 manufacturers at a click of the button, and with customers sharing their testimony, one can rise to the top, based on the algorithm the platform uses.
The company has recently launched ‘LoRRI Benchmark’, India’s first freight benchmark for contracted freight that aims to bring transparency and cost efficiency to the logistics industry. Built as a national freight benchmark, which aims to synchronise the industry by providing an integrative freight intelligence layer, manufacturers and transport / logistics companies can drive cost efficiencies of up to 10 per cent by leveraging it.
Actionable data insights
LogisticsNow is promoting transparency rooted in data. The portal provides insights on return loads and allows transporters to build their master profiles, helping them build their brand and transportation. A transporter in Adikmet (Hyderabad) can be discovered by a manufacturer in Guwahati, Saxena added.
In the near future, the company is looking at making the platform provide dynamic data of routes on whether a particular route is accessible for transportation with real-time intelligence (such as repairs, diversions and weather) and what alternative routes can be taken by the transporter.
LogisticsNow, which works with the cold chain companies catering to segments such as ice creams across India, has over a period of time strengthened usability and transport data insights for perishable goods.