Almost 2 years on from the start of the pandemic, we are still operating in testing times. Volatility and uncertainty continue to be seen across global networks, and the importance of the supply chain to the success of organisations has also increased, making operational resilience a vital need of the hour. In October 2020, we had conducted a successful webinar that focused on the key steps for building supply chain resilience in the chemical industry. A year on, we are now looking at a ‘New Better’, by exploring solutions that help further consolidate the resilience in your supply chain.
The pillars & trends of building resilience
Previously, we had looked at the 6 main pillars that are integral to strengthening your value chain. In our recent event, we focused on the key actions that connect to 3 of these pillars, and how they contribute towards building the resilience you need. First and foremost is selecting a dependable logistics partner. Given the complex nature of chemical supply chains, a strong integrated approach can help lay a solid foundation for better inventory management, while also ensuring the necessary buffers are in place across your entire network.
Proximity to your customers comes next. Solutions such as Maersk’s Hub In Transit (HIT) can help bring you closer to your end-market, and establish a more seamless last-mile distribution channel. HIT also enhances control tower operations through a visibility platform on the virtual container hub. This visibility can be extended to your customers via the TradeLens platform, which establishes a highly collaborative platform that unifies all the stakeholders across your value chain.
HIT and TradeLens also further exemplify 2 key emerging trends in the chemical industry – digitisation and more agile supply chains. Let’s take a more comprehensive look at the value they provide in building resilience in your supply chain.
As a global digital ecosystem, TradeLens leverages the power of blockchain technology to provide multiple benefits that boost operational efficiency and resilience across your value chain:
- End-to-end visibility for all the stakeholders across your entire network, which also drives more cost-effective transparency.
- Real-time and on-demand visibility, even for complex scenarios.
- Easy on-boarding through APIs, which allows you to grow your supply chains in a more scalable manner.
- Better collaboration between you and your logistics partners, by providing a common platform to share shipment information, trade documents and more.
- The function to digitise BLs on the platform making it easier to issue, transfer and surrender eBLs across your supply chain.
This end-to-end value has seen TradeLens see a significant uptake within the chemical sector, and auto, tech, retail and lifestyle verticals are also showing strong traction with the solution.
Hub in Transit
When operating in a fast-moving and complex logistics network, speed and efficiency hold the key to maximising commercial potential. The Hub in Transit solution helps position inventory in a strategic location, allowing you to service multiple destination markets and fulfil orders on a need basis. This also leads to fewer variables in the supply chain, giving shippers more flexibility, resulting in shorter and more predictable lead times.
Maersk Hub in Transit also includes a visibility solution that is managed by our control tower team. From orders management, booking of a shipment until the final delivery, every step of the journey is tracked via an easy-to-use dashboard, helping to optimise costs and improve operational efficiency.
Even though ocean capacity is still facing disruptions across several trade lanes, solutions like HIT can smoothen the outbound flow, to ensure steady product availability for consumers, improving your OTIF (on time, in full) service level.
In a time of unprecedented disruptions and uncertainty, building a more resilient supply chain should be a primary focus for businesses in the chemical sector. Visibility and agility need to be at the forefront of this initiative, as they can help lay the foundation for greater success down the line.
This is where digital solutions like TradeLens have a considerable role to play. With the vast amounts of data readily available within your business ecosystem, harnessing it the right way not only establishes better oversight for you, but also for every external partner and stakeholder aligned to your value chain.
Maersk Hub-in-Transit solution brings you closer to your customers, helping to streamline your supply channels, and mitigate the uncertainty we’ve been seeing in global logistics for the past year and a half.
For more information on how you can take the first steps towards consolidating the resilience in your supply chain, please get in touch with our team at APACmarketing@maersk.com.