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Wareflex News

"Unlocking value in the warehousing industry in Vietnam"

Wareflex: Vietnam's First On-demand Warehousing Platform

A digital platform that provides an easier, more transparent way for businesses to search and book qualified and flexible warehouse services, available on-demand. 

What is the on-demand warehousing platform?

The on-demand warehouse platform delivers warehouse services on a pay-per-use basis as and when needed instead of owning it or signing a long-term contract. As a market network of pre-qualified warehouses and other value-added services, it empowers businesses to promptly set up, scale up, or downsize their distribution network. For a simpler explanation, this on-demand warehousing platform operates similarly to Airbnb, but for warehouses, with the addition of some powerful tools and support from a highly experienced team of supply chain professionals.

How does Wareflex's business model solve some barriers to a resilient supply chain?

Wareflex was born to tackle the challenges such as demand fluctuations under volatile and seasonal market conditions, highly fragmented warehouse market in Vietnam, unreliable and inconsistent information flow, and low digitalization of the customer experience. It matches the demand for warehouse services with qualified warehouse providers while keeping clients' information confidential during the searching process.  

 

Wareflex's COO Mr. Nong Tu Lam, shared that through his extensive experience of over 25 years in the logistics industry in Vietnam, he often encountered quality issues related to the warehouse facilities rather than the quantity issue in Vietnam. He totally believed in the mission of Wareflex, which is committed to bringing such quality experiences for their customer in building capacity, standardization, and the much-needed digitization of the entire process, making warehouse procurement more convenient, transparent, and time-saving.

Figure 1. Wareflex's COO, Nong Tu Lam is sharing

How did Wareflex do in its first six months of business operation?

Upon receiving the pre-seed investment in January this year from Antler, a global VC and startup accelerator, the co-founders of Wareflex Rajnish Sharma and Rod Davariz worked with the various warehouse providers and interacted with the targeted business wherein flexibility in their warehouse operation is highly required. Within the last six months, Wareflex has onboarded over 100 warehouses of different types and sizes across 13 provinces and has already catered to the warehousing needs of businesses, equivalent to 6 figures USD for warehouse rental in Gross Merchandise Volume (GMV).

​Fig 2. Rajnish and Rod are sharing

What are the key takeaways from the soft launch event and the panel discussion “Unlocking value in the warehouse industry - stakeholders perspective”?

 

On 4th August at Block71 Saigon, a full-house event with nearly 45 guests, including investors, customers, warehouse partners, and experienced businessmen in the logistics and supply chain industry, graced the event and reflected on Wareflex and its team. So far, Wareflex has established partnerships with 44 companies, including 3PLs and warehouse operators, which leads to over 1.3M+ square meters and 180k+ pallet positions within 6 months, and it is committed to positively impacting the Vietnamese warehousing market with the continuous enhancement of the platform and the release of new features every month.

 

The event started with a few short presentations from Wareflex co-founders and COO, then followed by a panel discussion with key stakeholders, including:

- Wareflex customer: Mr. Pham Duc Phuong, Gia Linh Agriculture

- Warehouse provider: Mr. Tran Van Thien, Bao Phat Warehouse

- Investor: Erik Jonsson, Antler Vietnam

- Venture Capital: Ms. Phuong Tran, Wavemakers

- Moderator: Ms. Khanh, Block71 Saigon

 

Mr. Erik Jonsson - Representing the current investor in Wareflex from Antler Vietnam, shared that Wareflex has a strong team progressing swiftly, along with a robust business model and high potential market size; it is undoubtedly one of the fastest growing teams. 

 

Ms. Phuong Tran from Wavemakers - Venture Capital shared a detailed perspective of the model from a B2B point of view: "B2B companies solve bigger problems and have the ability to challenge the status quo for a much larger impact. There are some noticeable players in Vietnam's last-mile delivery and transport marketplace, but flexibility cannot be completed (or wholesome) without addressing the challenges in warehousing operation. Vietnam's logistics cost ratio to GDP is higher than developed countries and other countries in the SEA region, and efficiency in the logistics can be brought in through digitization and standardization".

Fig 3. Panel Discussion

Besides, the warehouse client and partner shared their positive experience while working and operating with Wareflex, and that they all intend to maintain a long relationship with the platform.

 

The discussions and interaction among guests continued after the panel during drinks and networking sessions, and the Wareflex team thanked everyone for their contribution, support, and suggestions to their journey. 

 

Please visit and register at https://www.wareflex.io to access the marketplace, connect with the Wareflex team for your customized solution development, and leverage on the experienced team without additional cost.

​Wareflex Team.