Tanya Singh, who has taken the logistics industry by storm with StoreSpace.

Tanya Singh is a Computer Engineer by profession. She pursued the same from the College of Engineering, Guindy. After accomplishing her engineering, she underwent a lateral transition and worked as an investment banker at Barclays Investment Bank.

But, the need of the hour was much different. Customer-centric models that adopt a collaborative supply chain management approach were missing in the country. This gave rise to StoreSpace.

The beginning

Tanya Singh assisted the beverage magnate, Coca-Cola, in streamlining their logistics and supply chain. And today, six years later, Coca-Cola remains as one of her first.

So, the story goes! About 85 per cent of the revenue comes during the summers. As demand for cold beverages surges, so does its production. The team at StoreSpace observed that warehousing and transportation capabilities were the choked up cogs in the logistics chain. There was inefficient demand forecasting and a rigid and fragmented logistics sector. Tanya and her team had the will, and so there was the way! A flexible and need-based “plug-and-play” supply chain solution was put to play. With this, the fixed sunk costs were variabilized, and demand surges were handled effectively.

StoreSpace today

Although Tanya had the vision, it was her team that helped her garner awards and praises. Standing right beside her is Mr Aditya Rajak, the Chief Business Officer. Aditya is an engineer from NIT Durgapur. The other senior members brought experiences from OYO, Naukri.com, DTDC and Delhivery, among others.

The company has travelled a long way since. Today, StoreSpace is a capital-efficient, cash-flow and PAT (Profit-After-Tax) positive enterprise. It has an annualized sales run rate of USD 4 million. The team has transformed the supply chain of some of the biggest names, including HUL, P&G, Havells, Britannia, ITC, Emami, Toyota, Godrej, Amazon, and Flipkart.

What makes them different?

The customer pain points lie in the rigidity and pen-paper workings of the traditional design, which had several leakages and gaps. With plug-and-play, StoreSpace brought the warehouse selection process, including operations, on the tech platform through digitization. StoreSpace now owns the user experience across the value chain.

The unique selling proposition is the fastest and flexible route to the market, even in the most uncertain and dynamic situations.

The Business Model

Their business model revolves around technology, data and insights. These help offer flexible supply chain solutions such as contract logistics and third-party logistics (sort centres, fulfilment centres, pick-up stations), and value-added services such as bundling, cartonization, transportation (first-mile, last-mile, hyper-local).

A Shelf Full Of Awards

Tanya Singh has been awarded the title “Emerging Woman Leader in Logistics Award” by ILSC. She is also the winner of the “Entrepreneur of the year – warehousing” award, conducted by Entrepreneur Media.

What’s more, StoreSpace has received notable awards such as the “Covid 19 – Hero of the Year Warehousing Startup Award” and “Best Startup in Logistics Award”. The former was by Nasscom, Singapore Institute of Material Management, Council of Supply chain management professionals & Alden Global. The latter was by the Institute of Logistics & Supply Chain (ILSC), SCMProForums.

The Way Forward

Tanya’s vision is to make StoreSpace India’s and, soon, the world’s largest flexible supply chain organization. She plans to have about 60 warehouses in each state. With this, the portfolio shall add up to 4761 warehouses. But, for the business expansion to be a success, StoreSpace will need more helping hands. With that said, the employee count is expected to surge to about 400, with the CAGR projection bumping up to 650 per cent over the next three years.