Develop digital supply chain capabilities in the Chemical Industry

 In chemical industry

Develop digital supply chain capabilities in the Chemical Industry

Chemical companies need to develop a notion of where digitalization can have the greatest impact on gaining competitive advantage in supply chain planning. Based on Accenture’s experience working with all of the chemical companies in the Fortune Global 500 and over 130 chemical clients globally,3 this report gives guidance on how to master the challenge.

We believe the six-key supply chain (SC) capabilities to master include the following:

  1. Demand Sensing Advanced analysis of structured and unstructured data to identify relevant patterns and predict demand development.
  2. Supply Chain Collaboration Interlock with customers, suppliers and other partners in the value chain, leveraging technology to exchange information.
  3. Dynamic Inventory Management Continuous inventory parameter analysis and adjustment to optimize safety and buffer stocks in a multi-stage supply network.
  4. Profit, Sales & Operations Planning (PS&OP) Proactive balancing of demand and supply constraints considering possible business scenarios and their impact on profitability.
  5. Supply Chain Resilience Monitor and proactively manage supply chain risks to improve the organization’s ability to cope with unexpected, disruptive events.
  6. Supply Chain Control Tower Integration of the data visibility, analytics and execution layer as a platform across all supply chain functions to improve flexibility and responsiveness.
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