The Indian retail market is highly unorganized with organized retail accounting for 8% only. The supply chain and logistics market is also unstructured and scattered.
Though there are many service providers catering to Indian ecommerce brands for logistics support, there are few which provide solutions for customers based in global locations.
Lytkraft, a Bangalore based startup is focusing on a different niche all together. Instead of home-grown brands, it targets startups that are based abroad but have suppliers base in India.
The consulting firm offers integrated supply chain solutions for different industry verticals. Currently it support its services for three domains namely apparels, Indian handicrafts and fashion jewelry.
Company targets US based startups that are looking to source products from low cost markets such as India, Bangladesh or China. Manufacturing cost in these countries is low due to various factors (cheap labour and raw material etc). These startups do not have sufficient funds to set up their own team and process in the other country. This is where Lytkraft comes in. It represents the clients in India and manages complete supply chain cycle including procurement and sourcing.
Process starts with business review and then moves on from different phases before the final delivery is done. Selecting Vendors, doing factory audits, negotiating with vendors, inspecting final products and then finally handling logistics for end delivery, its a long cycle. Company taps into each and every phase to ensure optimized performance for the customers.
Under advisory, company takes care of supply chain planning, execution and optimization. Analytical reports tailored to meet client’s requirements are provided to help businesses in developing a robust supply chain strategy. These reports are based on primary and secondary research done by the startup.
These reports aim to highlight a detailed view of various supply chain aspects. Terms such as supply chain visibility, optimized sourcing, shortened order-fulfilment times, reduced inventory levels & improved customer service are effectively addressed in the documents.
Currently the firm has two clients one from the US and the other from Belgium. Payments are charged on a quarterly basis. Typically a project takes minimum of six months two complete and pays $ 8k-10k.
Founded in Sep 2012 by Vikas patil and Krishna Karhik Shivaram, the company plans to foray deep into data analytics of supply chain. With features like data modelling and data accessing capabilities it plans to target Indian ecommerce brands providing them with insight on consumer data.