During the novel coronavirus pandemic, when the Food and Beverages (F&B) sector was hit hard, SupplyNote came as a harbinger of hope for the entire industry to cut down on the cost of operations by a significant 8-10%. SupplyNote offers three distinct segments of services, including cloud-based software for managing inventory, procurement and production, warehouse and logistics solution and e-commerce. In an interview with Rahul Mehra, Kushang Kumar, co-founder of SupplyNote, reveals about the company.
Please tell us about the concept behind SupplyNote. How and when did it start?
Many Food and Beverage outlets suffer from inventory mismanagement and end up burning over 70% per cent of the overall earnings. In fact, some face losses so significant that they ultimately pull down the shutters. The industry desperately needed a solution to digitalise the entire operation and optimise the cost. SupplyNote enables one to manage inventory, place orders, and uncover sales performance insights to strengthen the business’s health. The solutions together make it a one-stop for the entire food and beverage industry.
You started with BTL solutions; what are the core offerings of SupplyNote today?
When we provided BTL solutions to the FnB businesses, all had a common requirement. They desperately needed an inventory management solution to cut down on the losses. Hence, we worked based on their feedback to provide them with what worked as a pain-killer to their models. Today, we offer three distinct segments of services: cloud-based software for managing inventory, procurement and production; Warehouse and logistics solution; E-commerce (food packaging, housekeeping, groceries, etc.).
What are the benefits to buyers and sellers with SupplyNote?
SupplyNote solution helps FnB businesses cut down the cost of operations by a significant 8-10%. In a situation like the pandemic where FnB businesses were poorly hit, a solution like SupplyNote catalyses the recovery.
How is SupplyNote different from other players in supply chain management?
In India, only one player besides SupplyNote provides end-to-end supply chain services. However, they work on an inventory-led model, whereas SupplyNote delivers a marketplace with multiple suppliers of various goods to choose from. It provides F&B businesses with more options on cost, payment terms, and quality of goods, essential for this market.
What are the plans for the future? Where do you see SupplyNote 5 or 10 years down the line?
The brand is eyeing a global expansion. We are aiming to begin with Dubai and UAE. In the next five years, we will be holding a strong presence in Asian countries.
What would you advise someone who’s just starting?
The F&B industry has evolved significantly over the last decade. The traditional business model, which required high fixed costs, has become redundant with the revolution led by the cloud-kitchen model. The brand value of F&B businesses has become more significant than ever, meaning lower footfall in independent outlets and long queues outside multi-outlet brands. Our advice would be to opt for a scalable model that operates at low fixed-cost for someone starting a new business. And the key to success for such companies is organised standard-operating procedures and organised data management (billing, inventory management, supply chain management etc).
