Latest News | Business Briefs Snowman Logistics Launches 5PL Services in Cold Chain Logistics

Mumbai, Oct 17 (PTI) Gateway Distriparks group company Snowman Logistics on Monday announced the launch of 5PL (Fifth-Party Logistics) services in the cold chain logistics and supply chain management sector.

In this model, the company will develop suppliers, negotiate pricing on the behalf of customers, audit manufacturing plants, share production/requirement planning, buy stocks from them, consolidate in the warehouse, and sell to the clients.

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The vendor onboarding process is done by the company's quality team, it said in a statement.

Snowman Logistics has already started offering the newly launched service to some of the clients and is targeting aggressive growth in this segment, Sunil Nair, Chief Executive Officer of Snowman Logistics, said.

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The need for 5PL services has grown incrementally in the last couple of years due to the development of e-commerce businesses, the rise in international trade activities, and the increased complexities in the supply chain, it said.

The post-pandemic rise in the ready-to-eat and ready-to-cook food categories is also a major reason for the boost in the 5PL service segment in this sector, as per the company.

*** CSIR-backed incubator wins National Intellectual Property Awards * Venture Center, a science-based business incubator hosted by CSIR-National Chemical Laboratory (NCL), has won the National Intellectual Property Awards 2021 and 2022 under the category of "Best Incubator for Nurturing IP", a statement said.

This award is given by the Office of Controller General of Patents, Designs and Trademarks. This award helps cement Venture Center's positioning as the top inventive enterprise incubator in the country.

Soma Chattopadhyay, Head - Incubation & Mentoring at Venture Center, received the award from commerce and industry minister Piyush Goyal in Delhi recently.

Venture Center operates a regional technology transfer office under the National Biopharma Mission and an IP facilitation centre.

"In the last 4 years, Venture Center innovators filed 86 patent families and Venture Center facilitated 21 tech transfer arrangements. In the last 7 years, IP created by these startups have helped raise investments of about Rs 600 crore and generate revenue exceeding Rs 1,300 crore," the statement said.

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