Fre8wise, India’s first digitally connected logistics network powered by cutting-edge technology like Artificial Intelligence, Quasi-Blockchain, Robotic Process Automation (RPA), IoT, and more, has launched solutions for the logistics industry.
Industry struggling with problems such as Lack of integration between customer’s ERP and government portals such as FOIS, FMS, PMS, i3MS, Khanij, e-way Bill, etc, Manual and paper-based systems that cause delays and errors inside the plant/mine/port, Higher TAT (Turn Around Time) increases transportation cost, Limited visibility, and control for stakeholders & Increasing Pilferage and theft can be addressed by Fre8wise, which is a brainchild of Mansur Faroqui and Debashish Mohanty, who have 15+ years in the corporate world, have worked across different industries, regions, and technologies.
Both Mansur & Debashis spent 6 months on the ground living amongst transporters, truck drivers, manufacturing plants, mines, and ports, across the country, to interact with the people involved in the entire logistics processes like logistics managers, agents, transporters, and shift-in-charge managers as a part of their research to understand the on-ground requirements and the need for a single integrated digital platform for the logistics ecosystem in India that binds all of these disjointed stakeholders, to carry out the daily transactions for road, railway, and ocean freight efficiently.
According to Mansur Faroqui Co-founder & CEO of Fre8wise, “attempting to digitalize the entire logistics ecosystem is extremely difficult. But, one thing I have learned is that we have to wake up every day and do something that is extremely difficult in the market – if we do the easy stuff, we will not create any value. It’s an uncomfortable situation, dealing with new and difficult things. But that’s exactly why clients come to us – because we have got so good at solving difficult problems and creating value for the entire logistics ecosystem. We thrive in the uncomfortable”
Sectors like steel, cement, minerals, fertilizers & chemicals, automobiles, and beverages are the ones that benefit from Fre8wise. Within a short span of a couple of years, prestigious large enterprises like Tata Steel, JSW Steel, ArcelorMittal Hindalco, Jindal Steel & Power, Penna Cement, Carlsberg India, and many tier 2 & 3 brands across the country have trusted Fre8wise.
Fre8wise identifies the various stakeholders involved in a logistics transaction and understands their day-to-day working schedules, creating Digital Personas for each of them that lets them conduct their tasks digitally, anytime, anywhere, on any device. Thus bringing the much-needed visibility and control across the logistics transaction.
Mundane, time-consuming, manual processes are replaced with Robotic Process Automation. The platform is regulated on the concept of Quasi-Blockchain, where stakeholders complete each task individually and then the transaction proceeds further. It monitors every transaction by each stakeholder and verifies against every other stakeholder’s action in the procedure, which formulates a transparent and reliable working. All the data is automatically stored in a secure cloud.
Speaking on the industry, Debashish Mohanty, the co-founder of Fre8wise, says, “Fre8wise aims to improve India’s LPI ranking by solving all current challenges of Logistics in India as it comes 44 on the list of Logistics performance Index ratings.” Further, he adds, “We are behind many countries like Chile, Vietnam, and Estonia despite being expected to reach $330 billion by 2025.”
With the motto “Move Cargo Wisely”, Fre8wise aims to complete a cohesive logistic transaction from origin to the first mile, first to the middle, and then middle to the last mile.
