How Cardinal Can Support Chemical Supply Chains
The chemicals industry is one of the most significant markets in the world, with 96% of all manufactured goods depending on it. But moving hazardous, and even non-hazardous chemicals, requires a comprehensive understanding of countless regulations.
Chemicals are fundamental for many industries ranging from agriculture to pharmaceuticals – they are critical to modern life.
Understandably then, the chemical supply chain requires a cautious approach at each layer of management, from production to transportation, storage and distribution.
Here, we look at that cautious approach in more detail…
What are the challenges facing chemical companies when it comes to supply chains?
There are extensive regulations set for the chemical industry to follow. These protocols have advanced in recent years due to a few high-profile incidents involving the release of hazardous chemicals into the environment.
The toughening of these rules has subsequently led to increased costs for company operations. So, now more than ever the management of chemicals must be handled vigilantly, despite the pressures, to sustain global standards.
There is also now a lack of visibility in terms of inventories and stock. In other industries, this may not be as detrimental. However, in the chemical industry, forgotten raw materials could lead to spoilage or waste. Similarly, an inadequate supply of demand can result in difficulties in terms of customer requirement.
How could this be improved?
Regarding visibility, companies can now use software platforms to give a higher resolution of the whole chemical supply chain through from sourcing raw materials to storing and distributing finished goods. This means that disruptions can be avoided, or if need be, quickly resolved.
To comply with the legislation and guidelines that have subsequently grown costs of the industry, effective risk management is necessary. This can include establishing contingency plans for supply chain disruptions, monitoring supplier performance, and implementing strict quality control procedures.
One of the easiest ways to achieve the above and strengthen your supply chain is to invest in expertise.
The value of expertise in chemical supply chains
Here at Cardinal, our in-house team analyse your customs records to ensure all classifications are correct and amend the ones that aren’t. We give insight wherever you need it, helped by our award-winning supply chain platform, Leda, giving constant updates on the status of your cargo, shipments, and client documentation wherever you are.
The chemical industry can be awkward and stressful, so why not have peace of mind when it comes to customs, stock, and shipment, so that you’re able to dedicate more time to areas of the business that generate the most impact.
If you have any questions or queries, please do not hesitate to contact a member of the team.