Chemical

Developing Resilient Supply Chain for Chemical Procurement

Chemical Industry overview

The chemical industry in India, a key supplier for sectors such as pharmaceuticals, agrochemicals, and others, faces plethora of procurement and supply chain related challenges that impact its production efficiency. Dependency on imported raw materials exposes the chemical sector to price fluctuations and currency risk, while a fragmented supplier base results in inconsistent quality and reliability. Strict environment and safety regulations, coupled with tedious approval processes, make compliance a recurring challenge, especially in procuring hazardous chemicals.

Inconsistent demand complicates forecasting, leading to inventory problems. Also, the increasing pressure to adopt sustainable procurement practices, reduce carbon footprint, and focus on green supply chain resulted in a higher ESG focus across the industry. Meanwhile, the limited digitization across the sector and the lack of visibility into data and the end-to-end supply chain affect decision-making. Therefore, transforming procurement and supply chains is the need of the hour for building resilience and long-term growth.

The Moglix advantage

As an integrated platform for all MRO procurement, packaging, and supply chain digitization requirements, Moglix enables leading chemical manufacturers to streamline their supply chain operations via its digital procurement solutions to manage their spends proactively, build better supplier relationships, procure faster and improved compliance mechanism. We also offer vendor consolidation, catalog management, advanced spend analytics, data cleaning, and real-time order tracking, while seamlessly integrating with their existing ERP systems.