How Scrapcart is taking the Scrap Trade Digital

Here’s why Scrapcart’s digital approach is seamless, transparent, efficient, and gives you the right market value. 

So far, scrap in India has been concentrated in the hands of a few players, who primarily work using offline or traditional methods. With Scrapcart, we not only aim to democratize the scrap trade process by making the market more open and accessible, but we also strive to improve efficiency, convenience, and transparency through our digital-first approach, supported by our manned operations. With our cutting-edge platform, here’s how we at Scrapcart are leveraging our digital and tech. capabilities to deliver better outcomes for you, whether you are a buyer or a seller of scrap. 

• End-to-End Digital Platform: Our cloud-based marketplace handles digital auctions, tenders, and direct sales, replacing manual scrap negotiations with real-time, transparent bidding. This innovation has resulted in more than 1,000 tonnes of scrap being sold through our platform on a monthly basis from multiple industries.

• Real-Time Price Discovery: Our system of dynamic auctions provides real-time pricing to all stakeholders, improving sellers’ planning and buyers’ sourcing. In fact, in our latest e-waste auction for our client, we managed to secure a 2.5x higher sale price, with pricing reaching INR 3.9 Lakh on Scrapcart, against INR 1.5 Lakhs achieved through traditional sales methods.

• Audit-Ready Transactions: At Scrapcart, we pride ourselves on our thoroughness with compliance and reliable transactions. Our system of complete digital documentation, escrow payments, and audit trails enables compliance with environmental and financial regulations and policies. In fact, our transactions are so secure and convenient, we have facilitated scrap transactions worth more than INR 2 Crore per month for manufacturers.

• Bidder Expansion and a Competitive Marketplace: With more than 100 Scrapcart assured buyers on our platform, we have taken huge steps to improve competition in the scrap trade and have worked to eliminate cartelization in the space.

• Data-Driven Insights: Whether you are a buyer or seller on Scrapcart, you will always have access to market intelligence based on the multiple bids on the platform, so you can understand price trends and achieve a better scrap valuation.

• Reduced Administrative Overhead: With dedicated account executives, automated bid management, and digital weighbridge calibration, we at Scrapcart significantly reduce the manual effort and administrative burden for our customers. 

To better understand how Scrapcart’s digital-first approach has worked for our customers in real-time, take a look at a miniature case study on an e-waste tender we helped close. 

Optimising an E-Waste Auction

Our client: The world’s largest zipper and fastening products manufacturer

The challenge: To help them deal with their existing low scrap value realisation, and eliminating the non-compliance risks in e-waste disposal for their company

The Scrapcart Solution:

• To counteract their low scrap value issue, we conducted an online auction of their scrap materials and e-waste, and created an avenue for real-time bidding on the goods. 
• To ensure that their waste disposal was meeting all regulatory checkpoints, we carried out a compliance certification exercise for their e-waste disposal, making documentation air-tight and in accordance with existing regulations. 
• And to ensure their scrap was getting the right value from the right buyers, we also facilitated buyer inspections of their scrap, so that buyers could make an informed decision and truly understand the value of the e-waste they were purchasing, which went a long way in delivering outcomes for the client. 

The Result:

• The highest bid secured during the real-time auction stood at INR 3.9 Lakhs (vs lowest starting at INR 1.5 Lakhs), thereby delivering 2.5x the value in real-time through the bidding process. 
• And finally, we delivered all the documentation to the client, making their scrap sale fully compliant and audit-ready. 

Whether in numbers or innovation, that’s the impact Scrapcart is making on the scrap trade in India and revolutionizing the landscape with its digital approach. Because scrap is only waste when you waste its potential.