While working in the reverse logistics business at IBM Global Financing, Sapan Jain realized the huge potential of the business. But it was also riddled with difficulties as the market was unorganized, fragmented and not transparent. "In Australia and New Zealand, it is slightly more refined but in the Asean, China and other places, it is completely ruled by brokers and enterprises and retailers often struggle to return their unused inventory," he said. Armed with his IBM work experience Jain started Blubirch earlier this year, a company focusing on reverse logistics with main focus on IT technology. It provides solution for IT asset management, re-marketing and also deals with refurbished customer returns and excess. He was joined by his colleagues who include Jayathirtha Katti and Jebby Cherian and his batch mate at IIT-BHU Amit Goel. "A huge amount of unutilized or returned inventory lies with the retailers and IT players. Though there is a large demand of such products, there is also a sense of distrust in the unorganized market. Used assets have a negative connotation in India. This is where I realized an opportunity to create an organization to bridge the trust deficit and involve enterprises, retailers, and individual consumers," Jain, who also has an MBA from Insead in France, said.
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