The chemical manufacturing industry has seen its share of ups and downs in the last few years, and the industry is still expected to face more challenges going forward. With such uncertainty, it is more important than ever to manage every sales opportunity, and ensure that the right goods are being created to fulfil orders in a timely manner. In this article, we look at the current state of the chemical manufacturing market, and why item management is crucial. We examine the challenges faced by utilising manual item management, the different ways in which you can streamline and improve these processes, and the benefits that come with using a holistic, automated, and supported service.
According to S&P Global, chemical production in Europe dropped by 6.6% in 2023, a serious reversal from the 5.1% growth the industry had experienced in 2022. The American Chemistry Council (ACC) have stated that they believe the output of chemicals will grow once again in 2024 by 1.9%.
Deloitte conducted a survey and found that 94% of chemical leaders believe that AI will be critical to their success over the next five years.
Along with AI, automation, and sustainable action, there is a continuing need for chemical manufacturing companies to improve their business structures, streamline their processes, and make more of the opportunities they are presented with.
TEB Apps helps manufacturing companies streamline business processes, manage data generated on a daily basis, and automate activities relating to opportunity management in order to make the most of them, and enhance the performance of sales teams.
Item management, also known as inventory management, is a vital part of chemical manufacturing. Not only for being able to determine what can be created, but also to determine that your business is legally, morally, and ethically compliant with all regulations and standards surrounding the use of chemical materials.
Proper item management helps manufacturers to identify the inventory that is on hand, where it is located when there are multiple locations or departments, and how much of the material is available.
Item management and stock control helps to:
In order to optimise item management and ensure excellent resource management, businesses must have a full and complete understanding of what the company objectives are, what is going on, and what it is capable of doing.
For chemical manufacturers, there is also the important issue of being legally compliant, and item management is absolutely critical in order to maintain and uphold these standards.
When it comes to sales, item management can make an enormous difference to the business and the consumer.
Managing inventory properly allows resources to be used in their most effective capacity, and can maximise profits for the manufacturer.
In order to make the most sales, companies need to know:
For most chemical manufacturing businesses, AI and automated processes are becoming an industry standard and normal. However, there are those who have not yet caught up with cutting edge trends, or believe their orders are so complex that they need to be handled manually.
There are many technology trends shaping the future, but there are still companies that believe there is a time and place for manual item management. Often this viewpoint is adopted because of the complexity of integrating new software and technology, because there is a legacy system in place, or because order numbers are so niche that it is considered cost-inefficient to bring in new operating systems.
Despite all this, there are a number of serious challenges that businesses using manual item management face, including:
The sales process is extremely complex and challenging, and requires sales members to be extremely knowledgeable about the business, what the costs involved are, and what additional fees or overheads may be involved before finalising a sale.
Without the support of an accurate and reliable system, businesses are left to hope for the best and operate at the level of their most inexperienced team member.
Take control of your item management with TEB Apps. At any given time you can pinpoint specific items with filters and funnels, so you will always know what you have on hand, and whether it is available for use. You can access automated item-wise reports, allowing for more accurate forecasting and planning. With a data-driven approach, you will be able to evaluate what your customers want from you, what the industry is doing, and whether you are set to achieve your own specific goals.
Chemical manufacturers are adopting TEB Apps all over the world to:
Give your team the best tools to work with, and benefit from a platform that will grow and evolve to meet your needs at every stage. Book a demo today, and discover what TEB Apps can bring to your chemical manufacturing company.
