5 Ways To Optimize Chemical Supply Chains
Creating efficient supply chains is one of the major challenges that all participants in the process industry have to face. This is particularly evident in the chemical industry where globalization, fluctuating prices, the emergence of new markets, and technological advancements contribute towards a dynamic business environment. While there is no doubt that the chemical industry in India is at the threshold of a strong growth curve, its true potential can only be realized with strong supply chain networks. In this blog, we look at 5 ways to optimize chemical supply chains. 1. Better Demand Forecasting Demand forecasting is at the core of efficient supply chain management. There are multiple benefits of demand forecasting on the supply chain including: ● Accurate market alignment. ● Reduced stockouts. ● Shortened delivery time. ● Better governance of demand uncertainty. 2. Build Sales Strategy Around Distribution Networks T