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Restock Tech opens warehouse for MSMEs to support financing arm Restock.ID
Warehousing has a crucial role in supporting the production process by facilitating storage and ensuring smooth operations to meet business targets.
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arehousing has a crucial role in supporting the production process by facilitating storage and ensuring smooth operations to meet business targets. It is essential that the security system of a warehouse is designed to guarantee safety of the products stored there. Moreover, in today’s retail industry, third-party logistics (3PL) is increasingly necessary to the efficient distribution of goods across the country.
Peer-to-peer (P2P) lender Restock.ID, which pioneers inventory financing for micro, small, and medium enterprises (MSMEs), also referred to as “borrowers”, is expanding its services in 2023. To cater to the warehousing needs of local MSMEs and brands, Restock.ID’s parent group Restock Tech has opened a warehouse and fulfilment center in Greater Jakarta (Jabodetabek). The 1,400-square-meter warehouse, located in Cikupa Industrial Complex (CIC), became fully operational on its inauguration on Feb. 20, 2023.
"As MSME businesses grow, [having] an excellent SLA [service-level agreement] for warehousing and fulfilment is even more essential,” Restock.ID cofounder and CEO Tiar Karbala said during the launch of Restock Tech’s warehouse.
“Opening your own warehouse requires a lot of time and resources. Restock Tech Warehouse is here as a warehouse and fulfilment solution for MSMEs," he explained.
Restock Tech warehouse can store a variety of goods, from fashion retail items, fast-moving consumer goods (FMCG), commodities, personal care goods and to healthcare products. In implementing its new Restock Tech Warehouse Management System, along with development assistance from information systems company PT Ava Revota, the warehouse can accommodate the warehousing needs of multiple brands and products.
In line with Restock.ID's mission to “Grow Together” with its partners, the P2P firm is actively supporting the rise of young “creativepreneurs”. By providing the necessary funding and appropriate storage solutions, the company is helping to develop modern MSMEs so they can achieve their maximum potential.
Since its establishment in 2019, Restock.ID has been successful in providing solutions for MSMEs that encounter difficulties in growing their business, whether by financing production through inventory financing, in which product assets or business inventory are used as collateral, or by assisting with warehousing and fulfillment logistics.
Restock.ID has thus made its mark as Indonesia’s first P2P lender that facilitates MSME financing through the use of assets and inventory as collateral.
Restock.ID has worked with companies in various industries, including fashion retail, health care and consumer goods, as well as mass production businesses in other sectors. The companies it works with are viewed as partners and have succeeded in improving their product quality and sales figures since joining Restock.ID. In the first quarter of 2023, Restock.ID managed and successfully channeled funding of around US$ 117 million (Rp 1.8 trillion) to its MSME borrowers at a 100 percent payment success rate (TKB90).
"We will continue to open up more opportunities and invite MSMEs to collaborate with Restock.ID, which has a unique customer base,” remarked Tiar.
“Moreover, in opening Restock.ID’s warehouse through Restock Tech, with [its] strategic location and complete facilities to accommodate large quantities of goods, we hope to strengthen our core competencies further. Together, we will succeed in the local brand movement," he added, referring to the government’s nationwide campaign to support and develop local businesses.
