The chemical industry was hit hard by the Covid-19 pandemic and the simultaneous drop in oil prices. Some companies had to reduce their production to 40%-60% due to labor shortages and disruptions in raw material supply chains. Sales problems in other industries and travel restrictions also reduced demand for chemical products.
Global production of chemicals declined by 2.4% in February 2020 in China by 20%. Despite the drop in demand and a sharp drop in prices, there is an overall positive outlook for the chemical industry and some areas have even benefited from the pandemic and increased sales.
Modern supply chain platforms help to quickly respond to supply chain disruptions and maintain production and sales.
For example, the anicors platform allows chemists and their staff to search for chemical structures in catalogs from various manufacturers, such as Sigma-Aldrich, and order products directly. At the same time, inventory from the company’s own internal storage locations can be included in the search as well. Users especially love the substructure and similarity search.
Learn how anic GmbH can help you digitally transform your supply chain to protect your business from disruptive events – contact us today.