ELI - 347 | Arun Singhal (Founder of Source.One - Simplifying Polymer Distribution)

About the spokesperson: https://www.linkedin.com/in/arunsinghal1/

Arun Singhal is the founder of Source.One, a petrochemical distribution company focused on solving the distribution challenges in the chemical industry in India.

Source.One aims to streamline the distribution of chemicals, specifically petrochemicals, which is a $30 billion industry in India and plays a crucial role in manufacturing and the country's GDP.

The traditional and fragmented distribution system in the industry affects manufacturing efficiency, and Source.One uses new-age technologies to address this problem.

Arun Singhal's background includes studying economics, working in the financial industry, and later transitioning to the trucking startup Dracula before entering the petrochemical industry.

Source.One conducted extensive research for nearly a year, discovering that smaller processors in the chemical industry struggled to procure materials efficiently, leading to their growth limitations. This finding led to a shift in focus towards solving both the consumption and supply side challenges.

Source.One's research revealed that the B2B procurement in the chemical industry was still largely relationship-driven, traditional, and lacked transparency. The trade was dominated by expensive trade credit and suffered from inefficiencies, affecting both buyers and stockists.

To address the challenges, Source.One pivoted its focus to become a two-sided platform, catering to both buyers and suppliers in the petrochemical distribution process. This shift enabled them to become the largest petrochemical distribution company in India.

The groundbreaking technology that powers Source.One is the use of WhatsApp Business as a transaction platform. Leveraging the widespread use of WhatsApp in India, Source.One found it to be an ideal tool for immediate and scalable communication with suppliers and buyers, facilitating real-time price quoting and consumption.

Currently, Source.One has a significant reach, engaging with around 12,000 processors twice a day, working with 20 to 23 industry players, and influencing the pricing decisions of 78 other businesses. They handle approximately 1,500 shipments per month, totaling 250,000 tons per year, offering just-in-time delivery across India.

Source.One's platform has brought cost savings, efficiency, and improved information flow to the petrochemical industry. By optimizing the distribution process and providing transparent pricing and communication, they have revolutionized the way business is conducted, benefiting both buyers and suppliers.

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