CEO and Founder: Syafiq Yussoff
"When we first started out, we had just four men and two vans in an industry with big-name players like DHL and Fed-Ex. It was tough to find our niche, but I was determined to survive." – Syafiq Yussoff
A HUNCH FOR SUCCESS
When Syafiq had trouble securing a job back when he just completed National Service, he never imagined starting his own business. When he observed that the e-Commerce industry was beginning to pick up steam, he decided to go with his hunch and set up a small start-up with just four staff and two vans. In 2010, Riverwood was officially established to provide logistics services and was ready to compete with the “big boys” like DHL and Fed-Ex.
READY FOR TOMORROW’S CHALLENGES
From starting out without an office, the business has come a long way to operating a fleet of more than 60 vehicles with approximately 180 employees today. The logistics industry is evolving with technology, and Riverwood’s embracing of technology has enabled the business to develop its delivery management system to consolidate orders more efficiently. In 2017, the company had also explored building a warehouse management system, after consulting Republic Polytechnic’s Centre of Innovation for Supply Chain Management on its options.
PASSION FOR DELIVERING
Despite being relatively new to the industry, Riverwood has amassed a good client base through effective networking. The company has also clinched noteworthy deals such as with Amazon Prime Now to become their third-party logistics provider for Singapore for their launch in South East Asia. Its vision to be the preferred logistics partner for businesses all over the world is also well translated in its focus on customer satisfaction and retention.
THEIR FUTURE ECONOMY STORY
- Riverwood developed its own delivery management system to have greater oversight of all the parcels they were handling
- Instead of merely providing delivery services, Riverwood also invested in vehicle GPS tracking to track more effectively and give their customers more accurate delivery timings
- By tapping on technology, Riverwood is able to continuously upgrade and optimise its operations to build a larger client base and clinch corporate deals and partnerships
- Riverwood’s major partnership deal with Amazon Prime Now could offer them new opportunities to venture into the South East Asian market in the near future
GETTING AHEAD WITH GRANTS & SCHEMES:
- The Productivity and Innovation Credit (PIC) scheme from IRAS and Innovation & Capability Voucher (ICV) by SPRING enabled Riverwood to defray the cost of enhancing its operations systems
- SPRING’s SME Working Capital Loan also supported the business’s efforts to expand its operations and rake in higher revenue
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