FnF Surplus thrives as the global platform for Fragrance & Flavors
Recycling holds prime importance today. It is gives us the only hope for a beautiful world our future generations will inhabit and offers the best way to contribute towards creating a better world with sustainable living conditions. Not to mention, the subject has caught attention of today’s new age entrepreneurs, who have been discovering innovative ways that would serve this supreme cause.
A resourceful concept, FnF Surplus prospers as a leading online marketplace that provides surplus of raw-materials, finished goods, packaging materials, capital goods and other items of use pertaining to Fragrances and Flavors industry. The company works as a global buyout for the surplus of raw materials, finished goods, packaging materials, capital goods and other items of use pertaining to Fragrances and Flavours industry. It sets up a unique platform for the players enabling them to buy and sell surplus and obsolete inventories conveniently. FnF Surplus’ radical initiative has been hailed as a boon for a horde of entities in this space including manufacturers of fragrances & flavors, Aroma Chemicals and Essential Oils; distributors and traders in this space as well as corporate buyers and sellers of above items. Within a short span of time, the company has obtained a firm footing offering a remarkable and unprecedented service. The company’s rich clientele encompasses six out of ten corporate giants in fragrance. The names include Givaudan, Firmenich, Capua, Sensicent, Albert Ville and more with their Indian as well as global operations.
The brainchild of an expert team of professionals equipped with profound experience rooted in this space – FnF Surplus was ideated with the subtle mission of reducing wastage across the industry towards ‘Realizing value from the Excess’; while ensuring ‘Sustainability’. In a chat with The CEO Magazine, Nikunj Harlalka – Cofounder at FnF Surplus speaks about what inspired the foundation of the company, “An extensive research on the processes of Fragrance industry revealed that a considerable amount of raw materials are preserved as stock, as the consumer preferences are rapidly changing 1-3% of this Inventory remains idle and over time get redundant, obsolete finally to be written off as surplus, this inventory usually gets handed over to a scrap dealer who buys old packing material, however he does not have the expertise or the resources to re-cycle them safely. As raw materials essentially comprise of chemicals and food grade materials, they are subjected to expiry and are sent for dumping as soon as they are close to date of expiry. Disposal of surplus stocks in a timely manner poses a critical challenge for companies majorly caused by absence of organized channels and frequently changing regulations concerned with use of raw materials and finished goods in use. Moreover, issue of safe disposal of expired stocks further adds to this challenge. FnF Surplus was thus born to recycle these obsolete stocks of raw materials and finished goods.”
Sui generis approach
Surplus of stocks may come out as a result of odor contamination, abrupt discontinuation of a consumer product, products nearing expiry, change in formulation and merger or acquisition. FnF Surplus anonymously procures this surplus from the contributors. As an end to end solution provider, it handholds its clients in every stage of selling materials; right from taking account of their stocks, to their valuation, documentation & finally moving it out of their storage premises. Apart from capacitating organizations to streamline their internal audits and reduce their carbon footprints, FnF Surplus also enables organizations to get an optimum value of the excess stock while helping them regulate their cash flows efficiently.
FnF Surplus Difference
Having carved a niche for itself in fragrance & flavors space, FnF Surplus consolidates its leadership not only for pioneering a groundbreaking service but also for its steadfast and persistent focus towards finding more sustainable solutions and uprooting the core problem. The company has developed safety compliant and cost efficient applications of these surplus chemicals for use in Industrial Cleaning & Outdoor Fragrances. FnF Surplus is a home to a highly competent team of expert professionals who bring along with them a collective experience of thirty years rooted in the Industry handling Synthetic & Natural Ingredients. This has been instrumental in achieving what the company has envisioned. “Our global reach across this industry brings many actual users of these materials on to the FnF Surplus network thereby providing wider opportunities to liquidate excess inventory and save on purchases” adds Nikunj.
In its small journey, the company has already hit milestones that have been the guiding steps towards moving up the success ladder. Apprising us of FnF Surplus’ achievements, Nikunj briefs, “Our partners have been able to reduce their carbon footprints by upto 5% by effectively managing their surplus which is a huge saving considering all companies today have a sustainability mandate and are trying hard to reduce their carbon footprints. In the current year alone, we have been able to manage a surplus inventory with a book value of US$ 8Mn. We have been observing an exponential growth and acceptance in the Industry.”
Besides following a strategic growth plan, the company is all set to step up with CSR Initiative to empower women SHG who are engaged in production of goods of worship like Agarbatti, Dhoop & Loban to provide them better working condition and market access.