Supply Chain Analysis Helps a Petrochemical Industry Client Enhance Operations and Increase Reliability
The growth of the petrochemical industry is determined by the high demand for its derivatives in the textile, automotive, medical, construction, industrial, electronics and consumer goods, and pharmaceuticals industries. Additionally, the regulatory policies by governments across the globe that are aimed at incentivizing chemicals manufacturing also plays a substantial role in attracting investments from overseas companies. However, the ever-increasing competition in the petrochemical industry space is forcing players to improve their existing business models, maximize cost savings and improve automation across their sourcing and procurement processes. Supply chain analysis help firms operating in the petrochemical industry space to devise cost-effective and best-in-class product and service offerings to the customers and helps them increase their overall profitability and competence over their competitors.
With years of expertise in offering a wide array of supply chain solutions, SpendEdge helps firms operating in the petrochemical industry space to map their current supply chain situation against an ideal state for a company’s supply chain.
The Procurement Pain Point and Insights Offered
An international player in the petrochemical industry space with global production and distribution operations across the globe was facing predicaments with their supply chain network that threatened to disrupt their ambitious growth plans. Additionally, the company was active in multiple product lines, including basic chemicals, polymers, intermediates, fertilizers, metals, and specialties. As a result of this diversity, the company had an extremely intricate, global production and distribution network with numerous storage locations and modes of transportation for delivering its products to customers.
To cater to the specific business requirements of the petrochemical industry client and help them, enhance operations and increase reliability across the supply chain, SpendEdge tailored a comprehensive market research approach that included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures.
During the course of this supply chain analysis engagement, the petrochemical industry client was able to evaluate their company’s supply chain management capabilities compare with leading practices. Additionally, the client was able to design a strategic blueprint for future supply in six critical areas including operations, planning, sales and customer service, organization structure, performance management, and supply chain network.
Fundamental questions answered in this supply chain analysis engagement include
The supply chain analysis engagement helped the petrochemical industry client identify numerous improvement opportunities at the functional levels. Additionally, with the help of SpendEdge’s strategy blueprint, the client improved service levels, streamlined operations and planning processes, enhanced operations, and increased reliability across business units.