HOW TO OPTIMIZE YOUR CHEMICAL SUPPLY CHAIN

HOW TO OPTIMIZE YOUR CHEMICAL SUPPLY CHAIN

Firms in the chemical industry have not been as aggressive as those in some other sectors in adopting digital technologies. This has happened despite the fact that senior executives at many of these companies are aware of the range of benefits that digitization can offer in improving their chemical suppy chain. If a chemical consumer …


CHEMICAL CONSUMERS CAN RECEIVE BETTER CUSTOMER SERVICE BY SHIFTING PURCHASES ONLINE

Purchasing departments that handle the procurement of chemicals often face customer service issues. The level of difficulty in resolving a problem that chemical buyers experience is usually inversely proportional to the size of the buying organization. Large companies demand and receive a high level of service. Suppliers go out of their way to ensure that …


WAITING TO BE DISRUPTED – THE CHEMICAL INDUSTRY AND PORTER’S FIVE FORCES

The global chemical industry is undergoing rapid change. Both demand and consumption of chemicals are shifting eastwards as new manufacturing facilities come up and China’s consumption levels rapidly increase. New production capacities are being developed in the Middle East and in other non-traditional areas. How does all this impact the incumbent chemical companies? What are …


MAINTAINING AN UNBROKEN CHEMICAL SUPPLY CHAIN– THE CASE FOR ONLINE TRADING PLATFORMS

The price volatility of raw materials can result in rising costs, lower profitability, and a desperate last-minute hunt for new suppliers. But finding alternative sources of supply for chemicals is a time-consuming process involving the verification of the seller’s reputation and its ability to honor its commitments. Chemical consumers have evolved various methods to tackle …


FLEXIBILITY IN CHEMICAL SUPPLY PROCUREMENT

Large chemical companies have elaborately designed supply chains that are capable of meeting fluctuations in demand for raw materials. They have several suppliers for each of their requirements. A supplier is approved only after a rigorous process that involves verification of the quality of the chemicals supplied, adherence to time commitments, and compliance with regulatory …


PRE-APPROVED SELLERS SIMPLIFY CHEMICAL SUPPLY CHAINS

Chemical buyers often have to perform a careful balancing act in the process of meeting conflicting priorities. Every purchase needs to be made at the lowest possible cost and from the most dependable supplier. Buyers also need to bear in mind that the quality of raw materials procured has to meet the required specifications. Even …


E-COMMERCE PLATFORMS – PROVIDING CHEMICAL BUYERS A COMPETITIVE EDGE

Supply chain management in the chemical industry can be a challenging task. Identifying a reliable supplier of the required raw material could take days if not weeks. Once this task is completed, it would be necessary to negotiate a mutually acceptable set of terms and conditions.  By the time an order is placed, the market …


ONLINE PLATFORM FOR CHEMICALS – A BOON FOR CHEMICAL BUYERS

Small and medium-sized chemical consumers often find it difficult to get their suppliers to reduce prices or to offer them other concessions. With relatively low buying power, these firms are at the mercy of the companies from whom they source their raw materials. One option is to look for alternative vendors. But this strategy presents …


SOURCING CHEMICAL SUPPLIES FROM INTERNATIONAL MARKETS

The availability of reasonably priced chemicals that meet stipulated quality standards is critical to the success of manufacturing companies. High-quality raw materials will lead to the production of high-quality end-products. Conversely, if compromises are made at the procurement stage, the results can include customer dissatisfaction and lost orders. But purchasing departments cannot select materials only …


KNOWLEDGE IS POWER – THE QUEST FOR ACTIONABLE INTELLIGENCE BY CHEMICAL COMPANIES

The global chemical industry is dominated by a few large companies and thousands of smaller firms. The range of products that they produce runs into the tens of thousands. Many products can be manufactured in various grades. All this makes for a mind-boggling range of options for a company looking to buy chemicals. The situation …