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Bengaluru, August 13, 2019: AI backed supply chain optimization platform Locus has launched enhanced features that focus on improving FADR i.e First Attempt Delivery rate for e-commerce and 3PL companies. Locus works with mature enterprises in the area of CPG/ FMCG, 3PL, home services, e-commerce and retail sectors.
28% of a product’s total transportation cost is involved in last mile deliveries. The reason can vary from traffic issues, high order density, to peak sale volume issues. Locus has developed proprietary Geocoding engines to help FADR that converts ad hoc addresses to accurate delivery locations and route optimization solution. Dispatcher generates daily dynamic delivery plans, at its peak, the platform has processed 1 million orders a day.
It is critical for e-commerce and 3PLs to deliver packages on the first attempt as the follow-on cost for a second delivery is equivalent to delivering 3 packages and amounts to billions of dollars of cost. 20% of deliveries are not made in the first attempt and 16% customers may abandon shopping with a retailer altogether if they receive an incorrect or late delivery (Source: Research papers from Heriot Watt University UK). Improved FADR is a win-win for the customer, delivery executive, and the service provider and enhances customer experience exponentially. Locus Dispatcher is a dynamic routing platform that intelligently plans pickup routes by factoring in operational constraints and order variables like preferred time slot and environmental factors like real-time traffic.
Nishith Rastogi, CEO & Co-founder, Locus, "With one-day deliveries becoming the norm, efficiency alone doesn’t help e-commerce and 3PL players anymore. Customer experience is becoming the new differentiating factor, and last-mile deliveries are the critical touch point for the same. Our exclusive features ensure deliveries on customer-preferred delivery windows, accurate ETAs with live track-link for customers, resulting in time-definite deliveries (vs. day definite deliveries) increasing the overall customer experience."
Locus is improving FADR in various aspects - delivering on customer-preferred time windows, providing customer with the live ETA of the delivery via a tracking link, dynamic routing platform that intelligently plans your delivery routes by factoring in operational constraints and environmental factors like real-time traffic, mapping of any delivery package to the customer with only time of delivery & location, partial pickup and drop, assigning on-demand and bulk orders and rescheduling and canceling orders on the go.
Locus is an advanced supply chain optimization company that uses proprietary algorithms and deep learning to provide route optimization, real-time tracking, insights and analytics, dynamic sales journey plans, efficient warehouse management and vehicle allocation & utilization. Locus identifies new gaps in the logistics sector and fills them with AI-based decision-making solutions helping enterprises reduce logistics cost, enable on-time deliveries and provide a delightful end user experience. Founded by Nishith Rastogi and Geet Garg, the company comprises of engineers and data scientists from Carnegie Mellon University and Indian Institute of Technology. The company now has operations in the US, Indonesia, Singapore, India, and Australia. For more information on Locus, go to https://locus.sh/
About Locus: Locus is a platform as a service (PaaS) which optimizes logistics operations to provide consistency, efficiency & transparency. Locus aims to deliver transformational value in logistics for organizations, with proprietary algorithms for solving complex logistical problems using proprietary products such as autosortation, SizeUp, 3D packing, route optimization, network optimization and sales beat optimization. Click on this link for a video on their geocoding tech capabilities.
Locus has automated logistics for leading enterprises in India, like Urban Ladder, 1mg, Quikr, Lenskart, and Licious, among others.
Founded by IIT & BITS alumni in 2015, Locus has assembled a team with highbrow knowledge and experience comprising of engineering led by ex-AWS platform engineers, PhDs from Carnegie Mellon University (CMU) and Tata Institute of Fundamental Research (TIFR), sales led by a seed round investor, and a multifaceted deployment team with extensive operational execution experience.
Locus last raised $22 mn in their Series B round led by Falcon Edge Capital and Tiger Global taking the total funds to $29 million till date. By 2020, Locus aims to automate all human decisions using artificial intelligence and machine learning involved in sending a package from Point A to Point B.