Poor economic forecasting has been a traditional weakness of the chemical industry, in part because the supply chain has been largely based on petrochemical feedstocks that are set in a push-driven mode - i.e., product is manufactured and then pushed into the marketplace.
The emerging economies in China, the Middle East and Eastern Europe are allowing the chemical industry to thrive in this global business environment. But globalization has added complexity to the supply chain, as chemical companies have taken advantage of low-cost-country sourcing strategies and moved production to these emerging markets. The traditional make-order-ship supply chain has been replaced by …
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