On Wednesday Evening, Nisschal Jaain, Co-founder & CEO of Shypmax sat down with the TechGraph editorial team for a wide-ranging interview. We discussed Shypmax’s journey, the impact of logistics gaps in trade, and much more.
Read the complete interview:
TechGraph: Could you help give a sense of how far Shypmax has come since its existence?
Nisschal Jaain: India’s burgeoning export-import ecosystem requires robust logistics support. Keeping that in mind, Shypmax developed a SaaS solution for end-to-end cross-border shipping, including air and road freight, door-to-door delivery of small to large parcels, and everything in between.
We have emerged as a one-stop solution for all international shipping needs for B2B/B2C/C2C (Business-to-Business/Business-to-Consumer/Customer-to-Customer) shipments that originate or terminate in India.
We enable businesses and individuals to manage cross-border shipments with contemporary products and premium services at competitive pricing, including international and domestic express delivery, freight forwarding, and customs clearance.
TechGraph: How exactly does the technology work at Shypmax?
Nisschal Jaain: We developed the country’s first technology-powered cross-border logistics platform (LPaaS), building the most simplified automated cross-border shipping services at cost-effective rates. Our services are open, welcoming, and simple to use. We are a plug-and-play carrier.
With a perfect combination of technology and optimized shipping solutions, we focus primarily on e-commerce sellers, social sellers, and retailers. We aim to eliminate all the inconveniences associated with cross-border shipping for businesses and their customers, including delays, compliance issues in our country and overseas, and surprise fines. Our out-of-the-box solutions include shopping cart integrations, landed cost solutions, dynamic track and trace, and ease of onboarding.
TechGraph: With, Machine learning adoption in the supply chain and logistics sector is speeding up. How Shypmax is going to capitalize the same?
Nisschal Jaain: The supply chain and logistics industries stand to gain a great deal from machine learning. For us, the push is on to assist e-commerce firms in locating the most effective, reasonably priced methods of reaching customers.
Using machine learning or AI algorithms and methodologies on the data will produce insightful business predictions. With the help of this “cognitive automation,” we can analyze cost structures, monitor the efficiency of shipping and delivery across expanding worldwide networks and determine the viability of certain global markets.
Our ability to make more informed decisions about international trade rises. Our ability to make critical decisions is enhanced by AI-driven supply chain optimization software, which makes recommendations on the best course of action based on cognitive forecasts.
By enhancing the effectiveness of customs and border controls, AI and ML principles applied to demand forecasting produce exact estimates of future demand by customer segment or product range, which contribute to improving supply chain performance overall. As relative situations change, it aids and enhances these recommendations by continuously learning over time.
TechGraaph: Do you think tech-powered logistics players can address the logistics gap in India?
Nisschal Jaain: Over the past few years, India’s e-commerce market has experienced tremendous growth thanks to the availability of cheaper internet connections and the rising use of low-cost smartphones.
Major factors including the availability of high-quality products, the simplicity of placing online orders, the comfort of doorstep delivery, and the acceptance of flexible payment methods are all contributing to the extraordinary development rate.
Automation is made possible by technology, which lowers costs and improves process visibility. Technology can streamline corporate processes, and tech-driven logistics companies may handle last-mile connections by utilizing artificial intelligence, machine learning, and predictive analysis which are now better standardized and organized.
TechGraph: How do you see technologies namely AI and cloud technology, about their relevance across the supply chain and logistics sector? What does the future look like?
Nisschal Jaain: Artificial intelligence (AI) is a potent technology with many applications. Logistics and supply chains, which deal with intricate procedures like maintaining stocks, delivering items to warehouses, or controlling transportation routes in real-time, are among the key industries that provide enormous value. SCM may employ AI in a variety of ways.
First, the big data management capabilities of AI systems make them ideal tools for operations optimization based on massive amounts of pertinent data. As was previously noted, organizations may be more exact and efficient when predicting sales, allocating goods, or managing transportation routes thanks to the machine learning system’s ability to handle large data sets and provide accurate predictive models. For businesses eager to employ cutting-edge technology, the application of AI in SCM can contribute to several advantages.
Businesses can control costs by increasing efficiency and lowering lead times for goods and services by implementing AI in logistics. For businesses to optimize their company operations, we anticipate that deep learning-based AI systems will soon be widely deployed. These ML models should assist businesses in processing massive amounts of data and aid in more precise decision-making.
The use of AI-based apps is anticipated to grow dramatically, partly because of the environment’s increased competition and the constantly shifting global economy, which compel firms to look for new approaches to get better outcomes.
These innovations give people the chance to make decisions more quickly, increasing productivity. Deep learning algorithms’ greatest advantage is the degree of automation they permit, which has a huge impact on lowering costs associated with all sectors of logistics and supply chains (transportation cost reduction).
TechGraph: What do you think the supply chain industry’s future holds in the post-Covid era?
Nisschal Jaain: Global supply chains have been impacted by the COVID-19 epidemic at an unprecedented rate and scope. Taking everything into account, supply chain planning is no longer the highly departmental, segregated entity we had earlier; it is now an enterprise-wide role geared around serving the customer.
Second, given the facts at hand, decisions are now made considerably more quickly and in real-time. In essence, we listen, interact, and react far more quickly. We are putting a lot of emphasis on sustainability in addition to affordability and responsiveness.
Technology continues to be the foundation and is advancing at an exponential rate. The early stages of the epidemic served as a testing ground for the skills that today’s global supply chain depends on for survival.
TechGraph: Why do you think the logistics sector witnessed a strong rebound in FY2022-23?
Nisschal Jaain: Infrastructural expansion and increased operational effectiveness in the sector received significant investment this year. The new standard of transportation is being led by integrated logistics platforms and service providers with a focus on modern technologies.
Recently, the nation has experienced an unparalleled drive for infrastructure development. Logistics volumes are increasing because of increased export volumes and improved connections between manufacturing facilities and markets. However, the development of integrated logistics platforms and marketplaces has been made possible by cloud computing.
Transporters and shippers may conduct business online, optimize operations with automated process support, make payments online, and create documents digitally thanks to tech-driven logistics firms. Following the National Logistics Policy, which was recently announced, the Indian government has indicated its aim to promote the industry, reduce logistics costs to single digits, and help it become competitive on a worldwide scale.
TechGraph: Going forward, what will be Shypmax’s major focus areas? What are your expansion plans?
Nisschal Jaain: We created a full-stack air-shipping platform with a variety of features for our client in the previous three months.
Additionally, over the past three months, we developed a captive pickup and delivery network in 20 cities. Numerous other innovations are in progress. Within the next two to four years, we want to establish a global footprint and become the industry’s preferred cross-border carrier.
We have established a physical presence in over 20 Indian cities for doorstep collection and delivery; globally, we have stitched our supply chain in over 10 markets, including the UK, Germany, France, Italy, Spain, Canada, the USA, Australia, the UAE, Saudi Arabia, and the GCC region, while we cover ROW through international partnerships.
Our expansion strategy calls for establishing a footprint in 50 locations by the end of this fiscal year before turning westward to increase our on-the-ground operations in strategic markets. We are on target to reach an annual run rate of $100 million this fiscal year since our present revenue is increasing by 30–40% per month. Customers have come to us naturally and in large numbers because of word-of-mouth advertising.