By Lijo Mathai
The logistics industry generates big income when resources are used right and to their full potential. In the modern world, IoT and analytics play a crucial role in saving money in any form, be it fuel or time. To know what exactly 3SC Solutions does, Express Mobility reached out to Lalit Das, the Founder and CEO, 3SC Solutions.
Please elaborate on 3SC Solutions & how the company is reducing transportation logistics costs?
3SC is a tech based supply chain analytics company focusing on end-to-end execution services powered by advanced data analytics. Our solutions are enabled by proprietary technology stack using advanced analytics and AI and ML tools. This helps in orchestrating complex supply chains & Logistics while driving compelling ROIs (return on investment).
Our solutions consist of Software as a service (SaaS) & Analytics as a Service (AaaS) .
Predictive analytics software Demand Curve is uniquely designed to explore key drivers of demand, analyse the demand and gain better insight to data . The AI algos have uniquely built models with exogenous variables to better predict demand outcome and optimise inventory. This application usages reduces error of forecast in demand resulting is reduction of expedited freight
Prescriptive analytics – All optimisation solutions are enabled through linear and mixed integer programming (Heuristic and standard algorithm) with solvers like Gurobi & Cplex . This enables reduction of logistics cost in warehousing and transportation by optimising the number of distribution centres (DC), inventory reduction and Transportation.
Descriptive Analytics –All data flow from various systems are synchronised using platform Prism. The order management , inventory management , distribution management & Logistics spend across the supply chain are visualised through ETL technique to data lake and processed using python ML programs stored in Github . This prevents potential loss in total cost of ownership in a supply chain
Digital Control Tower – All logistics planning & execution is hosted from a shared environment & infrastructure using the application Visilog. The global Saksham tools with visibility platform itrack using advance inventory pooling algorithm reduces the logistics cost and optimises the in a multi-echelon network. The end to end solutions lead to overall reduction in cost in supply chain and logistics.
How is technology helping the logistics sector to grow immensely positively?
As supply chain & logistics continue to become more and more complex each day, advanced technology like Artificial Intelligence and machine learning are taking an increasingly central role in the industry. Data usage for decision in logistics planning & scheduling & usage of AI & ML technique for optimisation of Route , Load , Pallet , Order and equipment have enabled the logistics sector to grow significantly . End to End visibility of goods & information flow enabled through technology like IOT / Sensor / Smart Trucks & warehouses have also impacted the sector positively .
Why do Logistics companies look towards investing in the power of IoT?
As per a research done by Forrester, companies will spend approximately $434.9 billion in IOT solutions by 2023. Tracking and monitoring are some of the main drivers for IOT deployment in the logistics industry. It allows managers to track multiple things at once, predict and optimize travel time to improve operational efficiency of distribution and add transparency to decision making.
IOT works as a game-changer in creating a machine-to-machine connection that enables vehicles, packages, containers, loading equipment, and other devices and assets to communicate with one another throughout the supply chain.
Your views on Logistics operations in waste management?
Waste management is an extremely challenging task because logistics operations are very vast. Procedural operations and delivery procedures should be regularly reviewed in order to eliminate wasteful practices.
At 3SC we implement a combination of Artificial intelligence, digitalisation with state-of-the-art supply chain solutions to empower our sustainability goal.
How big is the company & your investment plans on recently being funded?
Recently, we have raised $15 million in a Series-B funding round led by GEF Capital’s South Asia Fund. With this funding, we are aiming towards increasing visibility, responsiveness, and resilience for our client’s supply chain through leveraging our technology and analytics offerings. We are planning to further scale up our domestic business and expand our geographical reach across Europe and Southeast Asia.
With our strong industry tailwinds towards digitization and sustainability approach, we are poised to grow 2-3X in the next couple of years.
Future of Logistics, post-COVID & what are the precautions for the third wave, etc.
Future of Logistics is more digital with predominated usage of IOT , block chain and advanced analytics .
What are the future plans of 3SC Solutions for the next 2 years?
We are focused on digitalisation of the supply chain, our 4PL Visilog plays the role of an orchestrating tool that enhances supply chain visibility and streamlines communication between multiple stakeholders. It also provides EPOD facility and paperless invoicing to achieve one of our foundational principles of sustainability. In the next two years we will expand our domestic and overseas business market and further leverage on analytics driven supply chain solutions to create value