''We are addressing three concerns of the industry - uncertainty, anxiety, and information asymmetry which prevails in the entire ecosystem. Freight operations are complex networks of actors who perform different functions and are usually located in different parts, generally isolated... – Nitish Rai, CEO, FreightFox
Ideas are easy. It is the implementation that is tough. This is what they say about the start-up world. However, not only have the founders of FreightFox carried on with their idea but have also executed it with promising results. Conceptualized and brought to life during the pandemic, FreightFox was formed in April 2020 and has grown to a team of 10 in a short span of time. It is not the size of the team that is at the focus of this article, but the fledgling group’s vision to assist Industry 4.0 with Logistics 4.0 through a platform that helps manufacturers procure and manage logistics efficiently using insights from manufacturers’ own and market freight data to improve logistics management.
From raw material to warehouse management, supply chain to labour administration, product shipment to information management, everything comes under logistics management. Parallel to this, FreightFox is able to help transport partners, big or small, get access to direct business opportunities with manufacturers while ensuring complete, transparent, and fair information availability. Elaborates CEO Nitish Rai: “We are addressing three concerns of the industry - uncertainty, anxiety, and information asymmetry which prevails in the entire ecosystem. Freight operations are complex networks of actors who perform different functions and are usually located in different parts, generally isolated. Use of technology, a single source of immutable information, and self-executing contracts could improve transparency, accountability, and efficiency of the current state of operations and make the entire package better and future-ready.”
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