Five Ways to Build Advanced Supply Chain Planning and Optimization Capabilities in Process Chemical Industries
As a process chemical company it is important to optimize and build advanced supply chain planning capabilities. You may have a current process in place, but are you experiencing the results that you need to prosper in this digital world? Is it time to maximize current supply chain planning investments and do more? To fully benefit from your strategic technology investments—and to take the next steps toward advanced supply chain capabilities—you must ensure your process chemical supply chain can embrace artificial intelligence (AI), optimize inventory, manage a complex supply chain and ensure a robust integrated business planning process.
These capabilities make it possible to implement an advanced supply chain process. With many moving parts in these complex supply chains, a scalable and unique process for each individual company is vital. Chemical process companies must possess strong capabilities in the following areas:
- Supply Chain Data Management
- Accurate Demand Forecasts
- Optimal Multi-Plant Scheduling
- Multi-echelon Inventory Optimization
- Integrated Business Planning
This white paper explores complex chemical process supply chains and the many moving parts that must be considered to succeed. With reduced inventory, increased forecast accuracy, decreased time-to-insight and rich, untapped data sources companies will be able to create their specific formula. In this paper we dive into the five key ways advanced supply chain planning capabilities and optimization capabilities that process chemical companies need.