Transforming the GCC Chemical Industry with Supply Chain Integration – LogiSYM September 2020

The Logistics & Supply Chain Management Society

The GCC chemical industry is second largest manufacturing industry in value add, after refining. 2017 Facts and Figures report by Gulf Petrochemicals and Chemicals Association (GPCA), the chemical industry accounts for 3.1 Following COVID-19 the global chemical supply chain market reported a severe decline in output. Overcoming these challenges, regional chemical manufacturers and suppliers are now forced to rethink and readjust their global supply chain model.

How to Safely Handle Chemicals!

Supply Chain Game Changer

Chemicals article written for Supply Chain Game Changer by Carla Sanz. Every time I am asked about how to handle and transport chemical products I answer that it is all about being well-informed. Know your chemicals. Indeed not all chemicals are similar. Chemical Storage.

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Process Chemicals – A Complex Supply Chain in Motion

Logility

On a recent road trip to retrieve my daughter from college I drove past a handful for chemical manufacturing plants of various types. Viewing a chemical manufacturing plant from a distance everything seems so peaceful and static.

Process Chemicals — A Complex Supply Chain in Motion

Logility

On a recent road trip to retrieve my daughter from college I drove past a handful for chemical manufacturing plants of various types. Viewing a chemical manufacturing plant from a distance everything seems so peaceful and static.

How to Safely Handle Chemical Products!

Supply Chain Game Changer

Every time I am asked about how to handle and transport chemical products I answer that it is all about being well-informed. Indeed, there are various elements that one has to know when it comes to the storage and handling of chemical products. 1- Know your chemicals.

A “Must Read” for Chemical Supply Chain Success

Loftware

What are some of your top-of-mind concerns in the Chemical supply chain? Choose the right solution and you can see dramatic improvements in efficiency, cost reduction, and inventory management. Supply Chain GHS ChemicalIf you’re like most professionals in the industry, labeling certainly plays a key role—especially with ongoing GHS regulations. Any mislabeling can result in costly delays and fines.

Seven Misconceptions on Managing Inventory in a Market-Driven World

Supply Chain Shaman

When it comes to the management of inventory in value chains, frustration abounds. Executive, after executive, lament, “They have purchased many technologies and sponsored many projects to reduce inventories, but they are not seeing results.” ” I have been studying the evolution of inventory technologies as an industry analyst since 2002. Inventory is the culmination of many business decisions. The Inventory Management Journey.

Seven Strategic Components for a Proactive Process Chemical Supply Chain

Logility

Process chemical manufacturers face complex supply chain challenges including dealing with hazardous and perishable ingredients whose characteristics (potency, color, composition, etc.) Add to these factors razor-thin margins, SKU-proliferation, globalization, long lead times to increase capacity, and products that tend to be heavy and expensive to move and you start to understand the complexities involved with running an efficient process chemical supply chain.

Better Chemical Inventory Needed To Avoid Disasters

Loftware

ChemicalThe possibility of environmental disasters threatens development around the world. Nations throughout the developing world are seeking new corporate investment. But environmental issues are demonstrating how challenging this can be.

Segmenting Your Inventory by Gross Margin and Demand Variability

ToolsGroup

Gartner Research analyst Paul Lord has developed a thought-provoking approach (shown in the above diagram) for tailoring supply and inventory tactics to different inventory segments. Traditional ABC inventory models segment inventory into A, B and C categories based on annual consumption value. As we showed in a previous blog, it’s not the only way to segment your inventory, nor nearly the best. Lord calls this “situational inventory”.

Key Ingredients to Formulating a Winning Supply Chain Strategy in the Process Chemical Industry

Logility

Chemical manufacturers are faced with shrinking margins and cannot afford to put the wrong product in the wrong location at the wrong time. Inventory tends to be a very visible supply chain cost to senior management. How much inventory a company has is listed right there as a current asset on the balance sheet. Again a system-wide approach to inventory optimization is the way to go. Process manufacturers face a highly complex supply chain challenge.

Medicine's Inventory Nightmare

Elementum

However, many hospitals and medical institutions struggle to provide adequate care due to inventory issues resulting from a dependence on outdated and inefficient supply chain management systems. These figures can be attributed to the fact that inventory management poses a particularly challenging task in the healthcare industry, where inventory needs constantly fluctuate, requiring meticulous tracking methods. medical supplies healthcare inventory management

Medicine's Inventory Nightmare

Elementum

However, many hospitals and medical institutions struggle to provide adequate care due to inventory issues resulting from a dependence on outdated and inefficient supply chain management systems. These figures can be attributed to the fact that inventory management poses a particularly challenging task in the healthcare industry, where inventory needs constantly fluctuate, requiring meticulous tracking methods. medical supplies healthcare inventory management

7 Steps To Manage Your Chemical Inventory With Software

EMERGE App

If you’re dealing with chemicals in your business, you have an obligation to store and transport these chemicals safely. Also, you need to comply with various government laws and regulations that include keeping a proper record of hazardous chemicals. Introduction.

Provoking the Industry to Move Past Incrementalism

Supply Chain Shaman

When we study 600 public companies by peer group, at the intersection of inventory turns and operating margin, only 5% drive improvement. To make the argument, let’s look at industry orbit charts in aggregate for the period of 2006-2017 for the apparel and chemical companies. In this case, the metrics are operating margin and inventory turns. Operating margin is a measurement of profitability and inventory turns is a measurement of how fast inventory turns based on sales.

A New Red Wagon?

Supply Chain Shaman

Last week, I spent time with large chemical companies engrossed in this discussion. Let’s take a look at the world of the chemical manufacturer. As shown in Figure 1, the company has been unable to maintain balance on the portfolio of cost and inventory. Acquisitions drove DOW Chemical’s wide swings. The chemical company’s performance today is largely based on financial engineering. Performance Data for the Chemical Industry for 2006-2016.

Pilot Chemical Company: Capacity Assurance and Being a Dependable Supplier

Talking Logistics

Capacity assurance is critical,” said Jeff Baxter, Director of Supply Chain at Pilot Chemical Company in a recent episode of Talking Logistics. Cost is important, safety is a must in the chemical industry, but dependability can provide a competitive edge and it’s becoming more and more important as businesses are pushed for efficiency and they carry less inventory, so they rely on their suppliers to be dependable.

Is High Pallet Safety Stock Hurting Your Supply Chain?

Roambee

real-time shipment visibility Returnable Asset Tracking Iot Solution Track Reusable Packaging Reusable/Returnable Assets Automotive FMCG Retail Returnable Shipping Assets Management Real-time Inventory Management 3PLs & Logistics Pharma Industrial Manufacturing Food & Beverage ChemicalsAn optimized supply chain is supposed to do more with less.

2019 Forecasting and Inventory Benchmark Study

Supply Chain Brain

What does best-in-class forecasting and inventory management look like? Now in its ninth year, E2open’s 2019 Forecasting and Inventory Benchmark Study is the most consistent, comprehensive and useful study of its kind. The study encompasses over $250 billion in annual sales from global manufacturers across a variety of industries, including consumer packaged goods, food and beverage, animal care, chemicals, and oil and gas.

Don’t Perpetuate the Hoax of the Gartner Top 25

Supply Chain Shaman

Inventory Turns (15%) (based on 2014 results). As a result, when the spreadsheet is sorted, a chemical company is stack-ranked against a retail player, and a high-tech company against a food distributor. The foundation to drive meaningful improvement is reliability in driving results at the intersection of costs, inventory and customer service. Hoax definitions – to trick into believing or accepting as genuine something false and often preposterous.

Will the Downturn Signal an Upturn?

Supply Chain Shaman

Vendor Managed Inventory processes–once hailed as the panacea of demand sensing–largely operate in isolation within sales organizations (of the thirty-three organizations that we interviewed last year, no market leader has connected these demand signals). They wanted to know, “ How was the market affecting the chemical supply chain?” Volatility. Demand redefined. Economic markets plummeting… D aily we see the financial charts roll across the news.

6 Reasons to Track Your Returnable Shipping Assets

Roambee

Track Reusable Packaging Reusable/Returnable Assets packaging supply chain assets Automotive FMCG Retail Returnable Shipping Assets Management Real-time Inventory Management 3PLs & Logistics Pharma Industrial Manufacturing Food & Beverage ChemicalsIn the world of logistics and supply chains, chances are almost everything that’s moved is moved ON or IN shipping assets such as trays, pallets, crates, tubs, bins, or containers.

3 Key Multi-Echelon Inventory Optimization Challenges and How to Overcome Them

Arkieva

When it comes to inventory optimization , companies often have to play a delicate balancing game to ensure that they have optimal levels of inventory. If your forecast numbers are too high, you run the risk of holding costly excess inventory and reducing available cash on hand. Making inventory optimization, arguably one of the most difficult tasks for any manufacturing business. in multi-echelon inventory optimization.

DC 97

Corporate Risk and the Growing Case for Sustainable Chemical Management

UL EHS- Sustainability

With more than 70,000 chemicals currently in common use – and 1,000 new chemicals coming into use every year – maintaining and managing their effective, appropriate and responsible use is a challenging task. Cost, process, regulatory and safety issues converge to making chemical management a critical, complex and cumbersome activity. But by implementing a range of measures on site and across businesses, the risks associated with chemical use can be eliminated.

Good Safety is Good Business at the LogiChem 2015 Conference

CH Robinson Transportfolio

I always come back from these conferences inspired and fascinated at how diligent chemical supply chain managers must be to mitigate risk and adverse events. At LogiChem, attendees interacted through roundtables and panel discussions on topics that identified best practices around inventory and supply chain metrics, third party logistics provider (3PL) management, rail logistics strategy to combat the driver shortage dilemma, and a host of other topics.

Multi-Echelon Inventory Optimization and Network Design - Differences?

Logility

Any time you want to optimize across an enterprise, whether it is inventory or product flows, you need to represent a logical representation of the supply chain. This brings us full circle to what the difference is between multi-echelon inventory optimization (MEIO) and network design. Network design optimizes the network and uses inventory policy as a constraint. Inventory optimization applications solve a real-world detailed inventory policy and deployment problem.

Multi-Echelon Inventory Optimization and Network Design - Differences?

Logility

Any time you want to optimize across an enterprise, whether it is inventory or product flows, you need to represent a logical representation of the supply chain. This brings us full circle to what the difference is between multi-echelon inventory optimization (MEIO) and network design. Network design optimizes the network and uses inventory policy as a constraint. Inventory optimization applications solve a real-world detailed inventory policy and deployment problem.

What Is the COVID-19 Impact on Your Supply Chain? We Surveyed the Transplace Network.

Transplace

Inventory and storage constraints. Depleted inventory due to customer demand. Business - Transportation Miscellaneous 3PL automotive business priorities chemical coronavirus COVID-19 CPG customer demand industrial inventory logistics manufacturing packaging retail shipping supply chain technology telecommunting transportationWhat Is the COVID-19 Impact on Your Supply Chain? We Surveyed the Transplace Network.

Supply Chain Operating Networks Create Supply Chain Rockstars

Talking Logistics

In a study conducted by Accenture in 2015 of chemical companies, results showed that 94 percent expect to boost their investment in digital capabilities in the next three years to embrace a competitive advantage. Historically, chemical companies buy from and sell to nearly every industry in the world, adding special demands for connectivity.

World's Most Important Chemical Made Rare Commodity by Harvey

Material Handling & Logistics

Texas alone produces nearly three-quarters of the country’s supply of one of the most basic chemical building blocks. Ethylene is one of the big reasons the damage wrought by Hurricane Harvey in the chemical communities along the Gulf is likely to ripple through U.S. Texas alone produces nearly three-quarters of the country’s supply of one of the most basic chemical building blocks. in Baytown outside Houston, and Chevron Phillips Chemical Co.

Control Towers: If Only There Was A Clear Definition

Supply Chain Shaman

For example, only 29% of manufacturing companies can access total cost data and 31% struggle to see the impact of business decisions on inventory. I was luck enough to get to take this class twice, and it was one of the most profound courses that I took in chemical engineering school. Global Supply Chains Inventory Management Market-Driven analytics control tower performance measurement Supply chain excellence visibilityWe finished dinner.

Data 266

Inventory Accounting: When Should You Use the Weighted Average Cost?

Unleashed

Accounting cost methods are used to control how a businesses inventory expenses appear on the company books. The weighted average is an accounting cost method used to value a company’s inventory by applying the average cost of on-hand inventory to each item of inventory stock. This means that both the cost of goods sold (COGS) and on-hand inventory are treated comparatively the same when it comes to determining value.

How to Make SAP Returnable Container Tracking ‘Real Time?’

Roambee

Real-time asset monitoring BLE Beacons Returnable Asset Tracking Track Reusable Packaging Automotive FMCG Retail Returnable Shipping Assets Management Real-time Inventory Management 3PLs & Logistics Pharma Industrial Manufacturing Food & Beverage ChemicalsAre you using an ERP like SAP in your organization to keep track of your pallets? Do you want to upgrade the Returnable Packaging Module function of your SAP or ERP to support real-time tracking?

Don’t Make These 8 Horrible Inventory Management Mistakes Before Halloween

EMERGE App

Not cleaning up the inventory skeletons in your closet can mean a difference between a ho-hum year and a bumper year. Here we’re going to cover some common inventory management mistakes that businesses make while winding up the year. Introduction.

Measuring Up?

Supply Chain Shaman

In our analysis, only one out of ten companies successfully improves operating margins and inventory turns at the same time. When this happens, we find that the organization is more aligned and perform(s) better on the Supply Chain Metrics That Matter –growth, inventory turns, operating margin, Return on Invested Capital (ROIC). (We Inventory Turns. The bigger the inventory turns number the better. Improvements in C2C outpaced inventory improvements.