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 …


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 …


CHEMICAL INDUSTRY TRANSFORMATION – AN IMPERATIVE FOR GROWTH

The chemical industry is seeing rapid growth and innovation as key end-use markets witness increasing demand. The US chemical industry alone is “an $801 billion enterprise” accounting for 14% of the country’s exports and 15% of the global chemical market. World chemical production grew by 2.8% in 2015. It is expected to expand by a further …


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 …


CUSTOMER SERVICE PARADIGMS FOR THE CHEMICAL INDUSTRY

Organizations that consume chemicals require their suppliers to provide efficient and proactive customer service. A supplier who takes an inordinate amount of time to respond to a query or fails to respond to a specific request for information is likely to be dropped at the first opportunity.   Customer service in the chemical industry fulfills …


DIGITALIZATION IN PETROCHEMICALS – PART 8: SUMMARIZING DIGITALIZATION IN PETROCHEMICALS

If you have been keeping up with this blog series, we are by no means saying that traditional distribution channels are obsolete or redundant. But, we urge you to consider digitalization as an important piece of a petrochemical company’s strategy that should be in line with existing processes and functions. Digitalization can do more than …


DIGITALIZATION IN PETROCHEMICALS – PART 7: FOCUS ON MARKETPLACES

Let’s spend some time focusing on digital marketplaces, not because that’s what Kemgo is, but, rather, because marketplaces are a solution that makes digitalization a little less overwhelming Essentially, if digitalization is a path that you would like to go down, it can be very accessible through online marketplaces. Some companies are building a portal, …


DIGITALIZATION IN CHEMICALS – PART 6: THE BENEFITS OF DIGITALIZATION IN CHEMICALS

Chemical companies that enhance their digital B2B capabilities will be in a better position to adapt to a changing competitive landscape. They can take advantage of several important opportunities, including deeper and stronger customer relationships, streamlining lead qualifications, and extending company reach. New distribution channels make it possible to reach more customers with a wider …


DIGITALIZATION IN CHEMICALS – PART 5: TECH TRENDS IN CHEMICALS

Technology and business practices are evolving and the shifting expectations of customers are quickly raising the bar for most suppliers. e-Commerce interactions in the chemical industry will need to be more customer-focused and richer. In the near future, all B2B processes will be digitized. That is a shift that will enable sellers to more effectively …