Efficiently manage supply contracts to reduce costs and mitigate risks.
Successful oversight of chemical supply chains in today’s climate of market volatility, geopolitical turmoil and heightened regulation requires foresight. You need access to reliable commodity price forecasts to plan raw material inventory and renegotiate supply contracts. Insight into how change – such as oil pricing – might impact your raw materials costs and preparing for unanticipated interruptions are critical for mitigating risk. To expand your profit margins, you must accurately analyze your current spend data to reveal where the greatest cost saving opportunities lie.
What IHS Markit can do for you:
- Renegotiate and manage efficient supply contracts that reduce costs, mitigate risks and expand margins
- By understanding the key drivers of price volatility – along with knowledge of current and prospective plant locations – you can target reliable and stable sources of low-cost feedstocks
- Gain visibility into your supplier’s cost structure with our proprietary data, analytics and expertise covering entire markets and regions
- Arm your procurement teams with the regional and global supply, demand and price forecasts they need to analyze spend, plan raw material inventory and acquire better buy agreements
- Benchmark your costs and margins relative to your competitors, and partner with us to implement strategies that reduce cost and ensure continuity of supply
