Asia clearly is at the center of the market growth in chemicals. 66% of the world’s population is in Asia, and the region is becoming increasingly urbanized. For the chemical trading business, especially in Asia, it is necessary to exploit the opportunity by out-reach using effective supply chain management.
Supply chain management is a practice of products that reaches a customer and represents the efforts of the organization. There is a need to understand why supply chain management is necessary for chemical trading.
An effective supply chain for a chemical trading firm is beneficial in various ways. Supply chain management is an essential element to operational efficiency which can be applied to customer satisfaction and the company’s success, which means that it is the backbone of the organization, find more here.
Benefits of supply chain management
- Enhances trust and aids long term customers and suppliers
- Provides a better medium for information sharing between partners
- Improves customer satisfaction as well as service
- Reduces inventory costs
- Improves quality and gives a higher profit margin
Supply chain barriers to trade
- Market access (Domestic and foreign market access)
Market access barriers include requirements, technical standards, local content requirements, and other regulations like www.bigcitymaids.com that make importing into the country more difficult. Like tariffs, these restrictions give the domestic industry a price advantage over foreign competitors.
- Border administration
- The efficiency of customs administration
- The efficiency of import-export procedures
- Transparency of border administration
- Telecom and transport infrastructure
- Availability and quality of transport infrastructure
- Availability and quality of transport services
- Availability and use of information and communication technologies (ICT)
- Business environment
- Regulatory environment
- Physical security
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