Chemicals

Cost optimization and supplier shortlisting would be the mantra for CPOs in the chemicals industry to mitigate challenges like raw material price fluctuations and shortages as well as supply chain disruptions.

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Challenges faced by the procurement team

Cost reduction

Accurate forecast of raw material prices, budgeting, and stringent control over inventory will aid in ensuring competitive prices

  • We understand your business requirements and offer customized solutions to optimize inventory based on actual demand. We can also forecast the demand, thus enabling you to make informed decisions about product procurement quantity
  • Adopting disruptive technology will also help in maintaining and streamlining inventory. We can identify inventory management solutions that support real-time tracking of sales
  • Based on our expert analysis of your needs, we identify procurement costs and generate realistic budgets that can help you minimize wastage and purchase raw materials in quick time
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Transportation disruption

The chemical industry has a long and complex supply chain, and with globalization being the buzzword, the focus would be on easing bottlenecks

  • In the post-pandemic era, CPOs have to be on their toes to avoid transportation disruption in the global supply chain, and this is particularly significant in this sector unlike anywhere else
  • Using our KPI solutions, you can shortlist logistics partners and identify gaps in the procurement process. This, in turn, would help you implement cost-optimization strategies and data-driven decisions
  • We offer solutions based on strategies such as BCCS/LCCS and multi-supplier sourcing to accelerate cost reduction and ensure uninterrupted supply
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Regulatory adherence

Growing regulatory stringency and amendments to regulation and policies governing the chemical industry have a huge financial impact.

  • Our team of experts not only helps you understand the regulations specific to your company but also informs you of the local and latest regulatory requirements
  • This will help you avoid supply chain disruption as most of the regulations are related to the transportation of hazardous chemicals
  • We also aid in shortlisting suppliers based on their compliance track record and offer best practices that can help address common compliance issues
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Industries

Basic and Specialty Chemicals

Basic and Specialty Chemicals

Basic and Specialty Chemicals

Navigate supply chain disruptions, raw material shortages, and price fluctuations - some of the key concerns plaguing the industry

Paints and Coatings

Paints and Coatings

Paints and Coatings

Sourcing raw materials in a cost-effective manner is a key challenge faced by the industry, and our experts can help you identify best-fit alternative suppliers

Agrochemicals

Agrochemicals

Agrochemicals

We can help you sail through stringent and ever-changing regulatory requirements, thus enabling faster new product introductions and reducing costs.

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Deal more effectively with high cost pressures arising from ever-growing global competition with our suite of procurement advisory services.

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Featured Case Study

A chemical industry leader discovers long-hidden cost-reduction opportunities in MRO

Challenge: The client’s procurement organization was mired in cost and time overruns, especially in its MRO sourcing. The key issue was lack of clear line of sight into indirect spend, and the client wanted to dial into the latest generation of AI and predictive tools to plug the spend leakage.

Solution: Our analysts performed a deep-dive analysis of the client’s current and past procurement metrics to find trends, patterns, and sequences with a focus on MRO sourcing. Based on these insights, our team reworked the client’s supplier consolidation strategy, eliminating gaps and optimizing the supplier base to prune maverick spend in a major way. Our purpose-built modules predicated on AI/ML will predict shifting spend patterns, going forward, with high accuracy.

Result: The chemical business has moved more of its MRO spend under management, thus saving scarce spend dollars and deepening relationships with supply-side participants.

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Dig Deeper with "SE Insights" Procurement Reports

Gathering data on your supplier’s capability to deliver high-quality products is just not enough. More open communication will ensure suppliers not only deliver with quality but also ahead of schedule.

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