Lai Wen on B2B logistics
From Ninja Van Group CEO discusses opportunities in cold chain logistics · · CNBC International Live
“Moving into cold chain and B2B logistics, we've been doing this for about six months and you start seeing all the numbers are coming true — when you layer on the efficiency of e-commerce into these existing models I think you will see the margins improve tremendously.”
On , Lai Wen, CEO & Co-Founder at Ninja Van, spoke about B2B logistics during Ninja Van Group CEO discusses opportunities in cold chain logistics on CNBC International Live.
About Lai Wen
Lai Chang Wen, CEO and co-founder of Ninja Van, has discussed the company's expansion into cold chain and business-to-business logistics. He stated that the company has been pursuing this strategy for about six months and described the integration of cold chain with existing express networks as an area where "magic starts to happen." He said that the operating expense of a dedicated cold fleet is "terribly expensive" and that the ability to co-load cold and ambient goods while maintaining quality is key. He also noted that e-commerce has "leapfrogged a lot of retail" but that some industries, such as the sale of frozen goods, have been left behind due to logistical challenges. In other appearances, Lai reflected on the company's founding and growth. He said that one of his "potentially biggest regrets" was focusing too heavily on e-commerce delivery with a workforce of about 70,000 drivers, rather than pursuing other opportunities. He described the company's approach to innovation as one of pulling people back from being "overly innovative" to ensure the basics are done right. Lai also discussed the company's hiring philosophy, stating that he looks for people who are "self-aware," "hungry to learn," and have "no ego." He has advised aspiring entrepreneurs to work in a large corporation for two years before starting a company, and cautioned that "entrepreneurship means you're ready to fail if you try your best."