Innovation in Action: Unveiling Sourceinfi’s Transformative Supply Chain Strategies
CXOToday has engaged in exclusive interview with Paras Thakkar, Founder of Sourceinfi
- Can you provide an overview of Sourceinfi and its role in the global supply chain?
At Sourceinfi, our B2B e-commerce platform streamlines bulk procurement of products or connects businesses with reliable suppliers. Leveraging our advanced tech stack, we seamlessly integrate supply chains. Additionally, we plan to launch our international dropshipping platform -Sooner which will ensure direct access to global inventory. The products shall undergo rigorous quality checks in our warehouse. This strategic approach will further optimize efficiency in the supply chain, empowering businesses to seamlessly transition from procurement to fulfilling B2C orders via their Shopify websites.
- Could you elaborate on the mission of Sourceinfi and its impact on the businesses it serves?
Our mission at Sourceinfi is to simplify sourcing, both domestically and internationally. Our agility allows us to significantly influence the industry, attracting clients interested in importing unique products. By bridging the gap between international suppliers and local markets, we aim to establish a robust network of suppliers and manufacturers. This approach transforms the landscape for our partner businesses, offering a seamless path to introduce and manufacture innovative products locally—a transformative change we bring to the businesses we collaborate with.
- In what way does technology play a pivotal role in enhancing efficiency and speed in sourcing operations?
Our operational structure is finely tuned into three integral components: the technology team, engineering team, and management. Suppliers experience seamless product management through our dedicated platform, from uploading catalogs to order processing and remittance checks. Our dropshipping panel enables easy product integration for Shopify stores, culminating in a streamlined process managed through our efficient admin dashboard. Our tech-centric approach is the backbone of our success, with customers recognizing and valuing the technological prowess that defines our global supply chain solutions.
- What criteria does Sourceinfi use to ensure a diverse and enticing product?
Our commitment to client satisfaction is underscored by our extensive product range. We prioritize innovation through sampling and product testing, fostering strong relationships with suppliers who constantly present us with new ideas. Through collaborative efforts, we refine concepts, assisting suppliers in bringing ideas to life with photo-ready samples. This proactive approach not only engages our audience but also ensures swift decision-making, allowing us to identify and promote products that resonate with our clients, resulting in mutually rewarding outcomes.
- How does Sourceinfi contribute to market expansion of Indian brands?
We specialize in accelerating the journey for Direct-to-Consumer (D2C) brands from ideation to execution. Recognizing the challenges D2C brands face in product selection, we provide a solution by offering a curated selection of easily sourceable products, complete with pricing and supply information. This expedites decision-making and allows brands to swiftly move from concept to market. Our commitment to speed and efficiency enables D2C brands to focus solely on marketing and branding, leaving the product procurement process to us. We maintain a pulse on market trends through supplier insights and an in-house research team, ensuring we consistently offer winning products to our clients. This dynamic approach positions us as a one-stop solution, streamlining the entire process for D2C brands and fostering their success in the market.
- What innovative approaches does Sourceinfi bring to supply chain management, making it a game changer?
We recognize the dynamic nature of the market and the critical role of speed in sourcing. Leveraging our strategic approach, we revolutionize inventory acquisition by opting for global air shipments. While traditional sea shipments to India take up to 50 days, we cut this time dramatically to just 15 days through air transportation. This game-changing strategy enhances our organizational efficiency, ensuring swift access to inventory, and giving us a competitive edge in responding to market demands.
- In what ways does Sourceinfi position itself as a strategic partner for businesses?
Our commitment to sourcing is boundless, allowing us to offer an extensive array of products. We’ve forged strategic partnerships with investors specializing in revenue financing for D2C brands. Leveraging our market presence, these investors route capital through our established supply chain, providing D2C brands with accessible funding based on performance. Our comprehensive solutions extend to inventory financing, offering financial support to those in need. From order inception to delivery, we manage the entire process, inclusive of market research, ensuring our clients stay ahead. Moreover, we provide end-to-end services, handling order fulfillment, packaging, and even offering Cash on Delivery (COD) options. Our holistic approach makes us the go-to partner for sourcing, fulfillment, and financial backing in a competitive market.
- Can you give insights to future plans and road trajectory of sourcing?
Our future vision revolves around exponential growth by expanding our brand partnerships and creating reserved categories for unique products. Having successfully collaborated with 4-5 brands, we aim to become a market leader. Our strategy involves becoming a fulfillment partner for viral products, facilitating quality checks, and international shipping to global dropship markets. While our current focus is on the Indian audience, our trajectory involves attracting users worldwide, connecting them with innovative products sourced from India, China, Taiwan, and Bangladesh. We aspire to be the go-to platform for global consumers seeking reliable and diverse product offerings, solidifying our position as a key player in the international e-commerce landscape.
