Innovating Sustainable Pallets: Reducing Environmental Impact in Shipping and Logistics Industry
CXOToday has engaged in an exclusive interview with Ms. Priya Prakash,, Managing Director, Eco Pallet Pvt Ltd
- Share more about the idea of innovating a sustainable product for the pallet industry.
The idea of innovating a sustainable product for the pallet industry is driven by the need to reduce the environmental impact of the industry. Traditionally, the pallet industry has relied heavily on wood and plastic as the primary material for pallets, which has contributed to deforestation and high levels of waste. The innovation of sustainable pallet products seeks to address these issues by using alternative materials and sustainable manufacturing processes that reduce waste and environmental impact.
Sustainable pallets are made from post-consumer recycled wood and patented spray. The manufacturing processes for these pallets are designed to minimize waste and energy consumption, with a focus on using renewable energy sources and reducing carbon emissions. The resulting products are more environmentally friendly than traditional wood pallets, with a lower carbon footprint and reduced waste.
Innovation in sustainable pallets also involves the development of new technologies and design features that improve the functionality and durability of the product. For example, hermetically sealed pallets can help prevent moisture damage and increase durability, while pallets made from recycled wood and PU can have increased weight-bearing capability and greater resistance to chemicals and abrasion.
Overall, the idea of innovating a sustainable product for the pallet industry is driven by the need to reduce environmental impact while still providing a functional and cost-effective solution for shipping and logistics. By using alternative materials and sustainable manufacturing processes, the pallet industry can reduce waste and improve sustainability while still meeting the needs of customers.
2. Share more about your journey as a founder, and what has been the biggest takeaway?
My journey as a founder was influenced by my prior experiences at Eco Pallet, I held sales and marketing-oriented senior/mid-level roles across eCommerce, Telecom, Banking, Real Estate and Services industries. My diversified experience across sectors, support from my inner circle, and my exposure and learning from various industry leaders I worked with in my career – all of it allowed me to mould and channel my entrepreneurial spirit into a successful business today. All the experiences, skills and knowledge I gained from working in different industries, were applied to start and grow Eco Pallet.
Innovation and economy were not typically associated, we navigated this challenge and came up with innovative solutions to create a sustainable product and successful business model. Raising funds, developing new products, acquiring industry-leading customers, and building a strong team with low attrition are something I am proud of. Additionally, the unique patent related to pallet manufacturing that we secured, has helped us differentiate our business from our competitors.
Finally, our passion for sustainability, circular economy, and women’s empowerment, has influenced our approach to running a business incorporating these values into our company’s mission and operations, helping us make a positive impact on the world. Most importantly Resilience, the need to be adaptable to changing market conditions, and the value of having a supportive inner circle is the key to my journey as a founder.
3. What is the business and current need of the industry? How is Eco Pallet addressing the needs of the industry?
The pallet industry plays a crucial role in the supply chain and logistics of many industries, including food and beverage, pharmaceuticals, and retail. The current need of the industry is for pallets that are sustainable, cost-effective, and meet the requirements of different supply chain scenarios.
Eco Pallet is addressing this need by offering a sustainable and cost-effective alternative to traditional wooden and plastic pallets. Our pallets are made from wood scrap and are repairable, recyclable, reusable and reduce further cutting of trees, making them environmentally friendly. Additionally, their pallets are lightweight, durable, and meet the requirements of different supply chain scenarios. Eco Pallets also offer customization to meet the specific requirements of clients.
By offering a sustainable and cost-effective alternative, Eco Pallet is addressing the needs of the industry while also contributing to environmental sustainability and decarbonising.
4. What are your thoughts on the future of the Pallet Industry? What role will Eco Pallet play?
The pallet industry is expected to continue growing in the coming years, driven by factors such as the increasing demand for efficient supply chain management, rising global trade, and the growing awareness of the importance of sustainability and reducing waste.
Eco Pallet, as a sustainable alternative to traditional wooden and plastic pallets, plays an important role in the future of the industry by providing a more eco-friendly solution to companies looking to reduce their carbon footprint and minimize waste. By offering a durable, reusable, and recyclable product, Eco Pallet can help companies meet their sustainability goals while also reducing their operating costs over time.
Additionally, as Eco Pallet continues to innovate and improve its product, it will become a leader in the industry that has set new standards for sustainable pallet solutions. As more companies prioritize sustainability in their operations, Eco Pallet has the potential to capture a larger market share and drive further growth in the industry.
5. Share more about the partnerships of Eco-pallet.
Eco Pallet has partnerships with various organizations and entities in the industry. Here are a few examples:
- Indian Institute of Packaging: Eco Pallet has partnered with IIP to test its innovative pallet design. The collaboration involves testing the properties of the pallet and analysing its performance in real-world scenarios.
- TUV Nord: Eco Pallet has collaborated with TUV Nord to constantly make our sustainable pallets green and lower Co2 emissions.
These partnerships reflect Eco Pallet’s commitment to sustainability and innovation in the pallet industry, and its efforts to work with other organizations to create a more sustainable and efficient supply chain.
