THE CHANGING CHEMICAL SUPPLY CHAIN

The effective management of sustainability throughout the chemical supply chain is vital for reducing risk, improving reputation, and attracting customers and investment. The chemical supply chain is complex, often involving large numbers of suppliers spanning several countries with different legal and regulatory frameworks. As globalisation has increased over the years, it has evolved to be an extremely efficient operation, enabled by a highly integrated supply chain that allows freight to be moved reliably and economically. Over the last couple of years, however, the chemical supply chain has had to contend with unprecedented challenges.   Factors affecting the chemical supply chain Besides dealing with the global pandemic, which saw businesses across all sectors scale back operations and reduce output, the chemical supply chain has faced huge price increases in the cost of moving freight – with road freight and container costs alike increasing dramatically. This has been driven by factors such as rising fuel costs and unpredictable volumes – compounded by recurring lockdowns in China, shortages of raw materials, the closure of manufacturing plants, and spiralling...