This class is a supplement to the Petrochemical Industry Fundamentals training course, and is designed for purchasers of chemicals and chemically dependent materials, components and systems. It provides insights on how prices of key raw materials are set and a discussion of tools available for buyers of these products. The class reviews pricing concepts relevant to the chemical industry and inputs used by suppliers to set prices. It also examines the pricing dynamics and price setting mechanisms for selected products. Other topics include trends affecting chemical pricing, raw material sourcing strategy considerations, and a discussion of selected case studies.
|One section offered: Thursday, March 23|
|John Mulholland, Vice President, Chemical Strategy Consulting, IHS Markit
Russell Heinen, Senior Director, Chemical Consulting, IHS Markit
|8:00am – 5:00pm|
Introduction to Strategic Sourcing
- How prices of key raw materials are set
- Tools available for buyers of chemicals and related products
- Pricing concepts relevant to the chemical industry
- Inputs used by suppliers to set prices
- Price setting mechanisms for selected products
- Trends affecting chemical prices
- Raw material sourcing strategy considerations
- Case studies
What Delegates will receive:
- Admittance to evening “Welcome Reception”
- Networking opportunities including breakfast, lunch and coffee breaks
- Hard copy of workshop presentations
- Certificates of course completion upon request
Who is it for?
This course is designed for anyone who wants an overview of strategic sourcing in the petrochemical industry, from industry newcomers to experienced professionals needing a refresher on this topic. The course should be of interest to purchasing professionals and others involved in sourcing key chemical-related products, as well as individuals seeking a deeper understanding of chemical industry dynamics.