Elixia Tech Solutions, an ISO 9001: 2010 certified company, provides comprehensive software solutions for transportation, logistics and supply chain management across industries. The company's solutions ensure that data is converted to information and provide actionable business intelligence. Talking about the company and its business model, Sanket Sheth, founder and managing director of Elixia Tech Solutions, says, "Elixia Tech was founded in the year 2011 with an ambition to organize the logistics sector in the country by introducing high-end technological innovations in the field of logistics & supply chain. We provide integrated solutions for real-time visibility of all your shipments for both dedicated and the market fleet. Elixia introduced its first product in the telematics space and has now developed a completely digital and efficient suite of supply chain solutions."
In line with the company's vision, every team member at Elixia Tech is referred to as 'Elixir' – with their primary purpose being to assist every customer to the best of their ability to resolve all their issues and simplify their lives every step of the way.
Indian logistics sector - An overview
The Indian logistics sector faces major challenges that need to be overcome. Commenting on the means to tackle them, he says, "Logistics in India is still a high-cost and low-margin business. From technology per se, almost 70% of logistics businesses rely on paper-based or manual modes of handling operations. Almost 71% of India's freight is transported through road transportation, which is unorganized and costly. The experts in the domain express the need to educate people about automation & digitization to bring in a noticeable change in the logistics domain. We also need to look for alternatives for Green Logistics that can help us reduce carbon emissions and fuel costs and thus, improve the overall efficiency of the logistics process."
Role of technology in supply chain
Technology and innovation have a role to play in disrupting the logistics industry. Machine learning, artificial intelligence and internet of things concepts are increasingly being used to organize and digitalize the supply chain operations. Elaborating on this, he says, "Supply chain software solutions give the power and visibility to monitor the processes, identify the exact underperforming areas and gain reliable data-driven insights to run the operations efficiently. "Internet of things" (IoT) offers predictive maintenance services guarantee product uptime while generating recurring revenue. Blockchain's biggest potential is for facilitating track-and-trace applications that help companies document the chain of custody of goods. Technological innovations can be applied to different supply chain operations to get the desired results like improved visibility, identification of operational gaps & cost slippages, and increased control over the entire supply chain process."
In 2015-16, Elixia started focusing on a few industries like FMCG & Pharma because the cold chain was its strength. The company introduced its temperature sensors and GPS devices to monitor real-time ambient conditions of products and send temperature conflict alerts. Elixia's intelligent delivery orchestration solution thus becomes the go-to solution for all industries dealing with perishable commodities.
Supply chain in perishable commodities like foods is a risky affair. Companies need to follow a stringent set of protocols to ensure that the consumables reach their destination in an acceptable quality without deterioration of organoleptic properties. Elaborating on the best practices followed by Elexia in the supply chain management in the food industry, Sheth says, "Regular audits need to be conducted to identify the areas of operational gap & make necessary changes in supply chain processes. Optimum operational standards must be maintained across all supply chain processes (from inventory management, transportation to last-mile delivery). Technology & software are the key enablers here to achieve these best practices for supply chain management in the food industry."
Lack of transparency during logistics affects efficiency
According to Sheth, the logistics market, both in India & abroad is highly unorganized. He explains, "Daily utilization of trucks in India (in km) is only 250-400km as compared to 500km in BRICS & 700-800km in USA/Europe. The empty running percentage of trucks is also 28-43%, much higher than in the USA & Europe. India also accounts for the highest logistics expense of 14% compared to 9.4% in the US, 8% in Germany & 10-11% in BRIC. Even the small percentage of organized players need a technological revamp to improve the overall efficiency and save on logistics costs."
Sheth underlines that the lack of transparency during logistics affects the efficiency of the supply chain. He explains how Elixia Tech ensures efficient and reliable supply chain management, "Elixia Tech has developed Intelligent Delivery Orchestration Platform, a chain of interlinked solutions that can be independently used to control supply chain execution practices. Starting from Dispatch Planning, followed by Load Optimization, Automated Indenting, Transporter Allocation, Shipment Tracking, and Transporter billing, it brings in visibility for the costs associated as soon as the shipment is out of factory premises till it reaches the distributor. We then intelligently collate the data from all the processes on a single platform and provide actionable business insights that help make informed business decisions."
Supply Chain Analytics
Today's supply chains are all the more complex and involve numerous interactions where data is captured every second. He expresses views on this: "Data is easy to find, but finding the right insight is tough. Supply Chain Analytics gives you the power to make key business decisions that directly impact the company's profitability. The growth of the supply chain is now majorly dependent on the growth of the supply chain software solutions market. The advances in technologies like AI, ML, and Blockchain are further aiding the development of even more sophisticated & improvised digital supply chain solutions for the future."
Talking about their competition and how to gain an edge over them, he says, "A lot of good players like Project44, FarEye, and Locus are doing a very good job here in bringing advanced solutions for logistics and supply chains. Thus, one needs to think of innovative solutions and yet plan to launch them at the right time to stay ahead of the competition in the market."
Vision & plans
Elixia Tech is associated with 1500+ customers across FMCG, Pharmaceutical, Chemical, 3PL, and many more sectors. Talking about their future plans, Sheth revealed that the company is currently serving clients across India, Australia, Cairo, Brazil, and the Maldives, and has plans to expand its reach to Middle East and South Asian countries. "Our team is very optimistic about their products & their success in the Indian market and are all geared up to bring in a digital revolution in the logistics sector in India and, eventually, across the globe. In the future, we also intend to bring visibility across all modes of transportation, i.e., air, rail, and sea. Drone Delivery Management Platform will also come into the picture soon."