Since the onset of the digital era, tech disruptors are altering the landscape of the international logistics market. The current or previously prevailing logistics market has been limited to legacy software which practically gives no connection to the world, and it has been slow in adopting new technologies for better and more efficient results. Seoul-based TradLinx founders Minkyu Park and David Nam observed unlimited opportunities as the logistics market seemed to refrain from moving ahead of its 80s craft. They collected and analyzed international logistics data, which lacked a standard format. With tedious business plans and overnight funding, TradLinx was founded in 2015, and the company took an approach to provide a long-term strategy with readily available data and easy-to-use tools.
On top of that, the firm analyzed and developed a patent algorithm to create robust freight management software. TradLinx worked with millions of available datasets, created a standardized format for logistics data, and established a standard in the Korean market. “The industry has so much to change and TradLinx’s motto is to lead the way,” states Minkyu Park, CEO of Tradlinx.
The company provides its platform, which consists of a real-time freight rate search tool (LINGO), a comprehensive freight management tool for shippers and freight forwarders (ZIMGO), and a real-time visibility solution (ShipGo). Presently, TradLinx is one of the very few visibility solution providers in the APAC region. While most visibility solution providers focus on inland trucking by TMS, Tradlinx focuses on the ocean data, which has a competitive edge and uniqueness in the market. Using ShipGo, the visibility solution, clients can easily punch in a bill of lading number, and all the information is available automatically. The solution provides details on whether the cargo has been loaded and departed according to schedule and if the shipment has been made without roll-overs, or there have been any delays or if the customs process has brought any issues for import shipments. By September, TradLinx will also add rail tracking in North America to accommodate users shipping to one of the largest markets.
Our solutions do not pertain to just visibility, but rather covers the entire process of shippers
TradLinx’s ShipGo has been chosen by Samsung Electronics, Doosan Infracore, LG Chemical, LS Nikko, among other multinational companies based in Korea to best visualize their on-going shipments in real time. “We have accumulated much experience dealing with shippers, freight forwarders, and liners,” asserts David Nam, CFO of TradLinx. For instance, Samsung Electronics ships over 10,000 shipments globally and their visibility was limited to tracking reports by freight forwarders which had zero visibility, and daily reporting was mandatory to cover a large number of shipments across the globe. After availing ShipGo, they can now see their shipments’ status in real-time and act accordingly if any delays or issues arise. Similarly, Eland, a large distributor of fashion goods and accessories, imported thousands of containers every month and shipped their goods to retailers across the Korean peninsula. Since the fashion industry is very much sensitive to the timely distribution of goods according to their season schedules, Eland can now visualize their shipments in real-time and track the customs process. “Our solutions do not pertain to just visibility, but rather covers the entire process of shippers choosing the right freight forwarder to manage documents and history with our comprehensive freight management solution,” says Park.
Forging ahead, TradLinx aims to expand within the APAC region and explore newer territories globally. Legacy ERP systems lack logistics, and TradLinx provides its clients visibility from shippers and freight forwarders to liners and ERP providers. The firm’s goal is to become the only platform to cover all the aspects of logistics across all models and for all the players in the industry. Currently, TradLinx tracks over 10 per cent of all containers shipping in and out of the Korean peninsula, and the coverage is increasing day by day.