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How chemicals are bought

Staff -- Purchasing, 4/4/2002 2:00:00 AM

Change is the watchword in chemicals buying. A new exclusive research study by PURCHASING Magazine finds chemicals-consuming companies—

• Aggregating their demand and using fewer suppliers,

• Centralizing their buying organizations to exploit corporate purchasing leverage,

• Using more instruments, such as futures contracts, to manage price and supply risks for chemicals, chemical raw materials, and energy,

• Buying more chemical products directly from producers and placing fewer orders with distributors (a consequence, perhaps, of more center-led strategic buying), and

• Making fewer spot buys in favor of more long-term contracts with suppliers.

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