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Chemical Supply Chains Go Digital

By Chemical Engineering |

When it comes to managing complex global supply chains, visibility and collaboration are the name of the game. To drive it, companies are embracing digital strategies The global chemical process industries (CPI) are undergoing a major transformation brought about by mergers, divestitures and shifting market dynamics, and these changes are leading to the creation of nonlinear supply chains. To keep pace, many industry leaders are harmonizing their supplier-management, sourcing and supply-chain processes using a digital strategy that enables them to extend business processes beyond the four walls of the enterprise. Along the way, these efforts are creating new efficiencies and cost savings that are helping them to compete in today’s complex marketplace.   Industry trends prompt change Shifting market dynamics.Across the CPI, competition is emerging from growth in the number of low-cost suppliers competing for business. These companies range from spinoffs of established providers, to firms in developing countries. Regardless of the source of the competition, an increasingly crowded field is leading to growing price and margin pressures. In addition, globalization and environmental trends are changing demand patterns. Customers…
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