Fostering B2B Transactions Through Digital Supply Chain Solutions
By Sandhya Agrawal
Supply Chain Management is handling the entire production flow of goods or services — starting from the raw components all the way to delivering the final product to the consumer. The digitization of businesses has led the aces in supply chain management domain to come up with different strategies and tools that can help in streamlining this complex process. A successful supply chain gives an organization the advantage it wants. ProcMart has been instrumental in the successful implementation of supply chain solutions for their clients by acting as their digital brain.
ProcMart is envisioned to make procurement services more effortless, effective and rapid for B2B transactions. This team of hard-working professionals developed an ecosystem that is functioning as a one-stop solution to all the needs of a business. This Organization has introduced numerous machine learning systems that, when correctly applied, anticipates challenges. They have also developed an algorithm that assists the team to label the possible suppliers based on different attributes to improve their decision-making capabilities. The Company started off as a procurement service but with time, they understood the diverse needs of the supply chain sphere and expanded their horizons by offering multiple services ranging from PPE vending machines, MRO Data Cleansing, Advanced Analytic Solutions, Store Management and Vendor Managed Inventory.
The Inside Story
This company was founded in December 2015, the year which proved to be the biggest transition phase for different Indian markets. As the country was going through various economic reforms, the founder, Mr. Anish Popli anticipated a huge production boost at the hand of government initiatives such as Make In India and introduction of GST. Being from the procurement background, Anish understood all the shortcomings of the market like unorganized B2B transactions and lack of technology involvement at the consumer level. He aspired to fill these gaps and began by addressing the ground level problems and provided comparable quotations to the procurement professionals. With time, he thought of developing a mechanism which can smoothen this whole process.
Anish foreseen the data as an asset to procurement decisions and the impact it is going to create tomorrow. He started recording every iteration which helped his team in development of the integrated solution that they are now providing to their clients. ProcMart implements innovative strategies for maximizing inventory reduction to help businesses reduce the risk of stock-outs. They actively upgrade their applications to ensure they are increasingly interconnected in flexible ways with IT solutions. The Company often strives to construct a single mix of factors, such as budget, timeframe, parameters and easy integrations with the system. Furthermore, the data usability has enabled the user to make quicker decisions.ProcMart has been providing a better operation flow, accountability, process automation, safe functioning, comprehensive traceability to their partners.
The Business has found a long way beyond a simplistic goal of “simplifying procurement” to consider the various difficulties that their clients face in day to day transactions.During initial phase of client engagement, the requirements are understood, a data-driven solution is proposed, prototype is presented, and the project is then carried out. The team works every day to strike the perfect balance between adaptability and scalability.
ProcMart protected its clients and associates even in the toughest times when the COVID-19 pandemic hit the entire economy. When the whole world was standing still and all the services were at halt, this team has been able to distribute more than 1088 lakh PPE items including gloves, face masks, respirators, helmets, facial shields, and kits in 14 Countries and 26 Indian states. In this one-of-a-kind company, each employee, although operating from home, does not leave a stone unturned to fight against COVID. All this has been possible because of their far-flung logistic connect and vendor reach that helps ProcMart to get the right thing for corporates at the right time.
BRANDS ARE THE BRAND AMBASSADORS
Amongst a wide array of marketing tactics utilized by the Company, Account-Based Marketing (ABM) has led to ProcMart’s implementation of a marketing campaign focusing on a range of target clients. The Company sees that they are able to balance customization with scalability for the solution being delivered. The Company is thus analyzing client needs or leads before providing them with a solution. In a long list of influential clients, ProcMart’s success stories includes Fortune 500 firms like Colgate, Britannia, Cadbury, Nestle, PepsiCo, Kellogg’s and Samsung.
This emerging leader has created the joint forum for all stakeholders with a standard PAN-India digital cataloguing system, building synergies between the different manufacturing units by real-time inventory assessment. This is done to anticipate issues with inventory levels and to be notified when those KPIs meet thresholds. With the creation of a shared database, ProcMart can handle uncertainties more efficiently by helping businesses to monitor, track and display their current and configured stocks location-wise. Here, a team of professionals from procurement, business analytics and data science are able to overcome the supply chain challenges collaboratively. Currently, ProcMart has a global impact through its vendors’ network operated by seven strategically located offices. Also, they have recently extended its operations in Southeast Asia.
It is often regarded that “behind every successful business, there are minds who innovate continuously to build a product which takes the market by storm”. Similar to the mentioned regard, in December 2015, Anish Popli (Founder and CEO) founded ProcMart. The combination of his humongous expertise in supply chain management and his visionary approach gave birth to this dynamic venture that is now changing the way B2B transacts. Being one of the most technically advanced minds of NIT Trichy, he later joined IIML that helped him develop the sharp business acumen. Prior to joining the entrepreneurial bandwagon, Anish has worked for some of the finest organizations.
Workforce – The Backbone of ProcMart
It is truly said that the employees are the backbone of an organization. Team ProcMart believes that their employees are the most vital part of the organization. Their incredible transition speed and success story is driven by the culture that they have incorporated amongst every member of their team. It has been achieved by rigorous efforts of the management by inculcating employee-driven events that motivates every team member to push their boundaries and reach one step ahead every time. ProcMart believes in building leaders and in order to stay intact with their idea of providing last-mile solution to their clients, the management makes sure that equal importance is given to the opinions of each and every employee. Hence, the whole team works as a family and all the employee hold a very strong sense of ownership with respect to their responsibilities. All of this contributes to a mentally stimulating working environment where everyone is determined to serve their best.
Awards, Accolades, and the Future
Under the umbrella of procurement, the word “cost saver” has changed to “business facilitator”, and ProcMart has now transitioned it to “Innovator.“In this regard, the new framework of the Company involves multiple ERP systems and e-procurement systems with the underlying aim to simplify routine activities and improve business productivity. Although the Organization measures their success through client satisfaction rate, they also have received many awards and below mentioned ones are worthy of flaunting upon:
In 2017 ProcMart got funded by IndiaMart, the world’s second-largest B2B marketplace, helping the company step in the right direction.
In 2019, ProcMart represented India in Malaysian Global Innovation & Creativity Centre, MAGIC. It was one of the top 25 Startups chosen from across the globe by Malaysian Government. This acted as a launchpad for ProcMart in expansion of their services to ASEAN Countries.
In 2020, ProcMart was presented “OUTSTANDING DISRUPTIVE PROCUREMENT START-UP OF THE YEAR” award by Alden Global Value Advisors in association with NASSCOM.
As a visionary company, ProcMart is setting benchmarks in the procurement industry and they are leaving their footprints globally. Furthermore, the team is planning to start their operations in Australia and Vietnam by the first quarter of 2021. Understanding the importance of expansion, ProcMart is working to create a blockchain solution which shall track and record the commodity journey from beginning to the end. It would improve ProcMart’s productivity by reducing the risk of fraud and allowing the organization to improve its operations.
Now more than ever, the role of supply chain is more crucial. Knowledge, Analytics and Learning powered supply chain solution gives our client competitive advantage by displaying agility, adaptability and alignment in their supply chain. Inability to supply products and innovation can have a real impact on our client’s operation and affect their bottom line. Our robust and customized supply chain strategy is attentive to the needs of those we serve.