if you are one chemical producer or supplierWell, it pays to be a pessimist. Disaster, whether natural or man-made, usually never goes away. be it chemical plant Explosion, or market collapse, global economic sanctions, trade war, or Brexit, no one can be sure what will hit the fan, or when.
Sometimes, to effect chemical supply chain can be disastrous. For example, when Hurricane Harvey hit Texas last year, the full force of the storm was felt. chemical facilities around petro Hub in Houston. as Bloomberg told At that time, “a third” American chemical production Harvey, threatened by rising prices and shortages of basic industrial building blocks like chlorine.”
The estimated total cost of damage was $125 billion, while a report by Accenturecalculated that there was one, “… chemical production production A reduction of about 70 million pounds (31 million kg) of ethylene per day.
lack of chemical supplies And supply chain disruption can affect anyone on this scale chemical companyCauses Headaches for Even the Most Prepared People chemical industry professional,
So what can be done chemical procurement team And commodity pool officer (CPO) to reduce the impact of situations where chemical feedstocks Seriously banned or even stopped?
It looks like technology may be the answer.
blockchainIn particular, has the capacity to handle millions of pieces of data as a whole delivery methodin order to maintain purchasing Dept Get notified when things go wrong, and help them find alternatives raw material source,
as Bhudeep Elephantan associate director of Accenture’s Center for Advanced Technology, explains, “Leveraging blockchain-based solutions is an innovative way to manage both information and process deficiencies. the supply chainFor example, a chemical company One can create permissioned blockchains that allow critical information and data related to plant operations and supply chains to be recorded in near real time. This will make the information available to all the necessary stakeholders within one’s ecosystem chemical company,
He continues in his report Accenture By noting an example of data that can be implemented or linked to the blockchain. These, “… include quantities of raw, intermediate and finished products, as well as production plans. Additional data may include financial details such as invoices, purchase orders, credit statements, logistics data, work permit information and employee records. This blockchain-based data Will act as a ‘golden reference source’ for reconciliation and recovery in the post-disaster scenario.
for many chemical industry professionalHowever, the use of blockchain may seem purely theoretical or ‘pie-in-the-sky’. however, as lorenzo zulorecently said linkedin conversation”Even if it’s hard to understand how” blockchain works in practice, the ability to use narrow road chemicals is direct. As was the case with the creation of the Internet; People realized its importance only after practical applications (website, email etc.) were developed.
is the co-founder of Zulo chemicalsan enterprise that monitors global chemical law Forecast supply chain interruption And the market closed. He is also a major proponent of the power of blockchain. chemical industryOutlining his beliefs in a recent article SPOTCHEMI’s networking hub for chemical industry professionals,
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Here he explained how,blockchain Potentially highly adaptive technology to address supply chain challenges by creating a single, global, secure and reliable infrastructure to exchange and track chemical related information together delivery method and in all areas. Management of efficiency, security, reliability, targeted reach and transparency among economic operators at different levels of the supply chain,
But, so far, the reconsideration of chemical supply chaintransparency between Chemical Consumers and SuppliersThe use of digital shopping or trading with blockchain, and through a ‘expect-worst’ mentality, is not permitted. chemical industry,
For example, a 2016 survey of commodity pool executives by Deloitte found that, “62% of CPOs increasingly feel that their teams lack the skills needed to carry out their buying strategy,” and “60% of CPOs do not have a clear digital strategy.”
Without a clear strategy, or the skills to implement it, it’s hard to imagine much success. chemical procurementAnd yet it seems that planning is becoming even more difficult in the modern world.
As an AI expert, author and renowned futurist gihan perera Explains during his visionary presentations, “When you make your strategic plans for the future, do you include two types of futures? In the past, we could see what was next, and plan for that in our strategy. It’s still important, but the world is changing so fast that there’s another kind of future: a future we can’t see. How do you plan for that future as well?”
if you are the target industrial chemical procurementPerhaps the best answer is to start thinking like a pessimist.