Chemical, Tire, and Process (CTP) Industry Segment

Chemical, Tire, and Process (CTP) Industry Segment

Chemical, Tire, and Process (CTP) Industry Segment is a critical component of the manufacturing space that processes raw materials into finished goods and intermediate products. The CTP Industry Segment is central to the economy and its goods and services are used directly by consumers (tires, paint, lubricants) and also as inputs to the manufacture of most products including agriculture, automobiles, building products, clothing, consumer packaged goods, drugs, environmental products, solar panels, and water purification.

CTP is characterized by the use of process manufacturing, batch production, and tightly integrated supply chains. For example the outputs from a refinery may be directly routed to a chemical plant, petroleum chemical plant, or used in tire manufacturing. A large processing facility may be owned by multiple companies with the outputs of one company directly entering the process of another company and then being fed to a third company's process unit.

The companies in this segment includes many large global companies that are immediately recognized such as BASF, Behr Paints, BP, Chevron, Dow, Goodyear, Michelin, PPG, and Valspar. The plants and equipment associated with these companies is very expensive and often run continuously days, nights,and weekends. Raw and intermediate materials are transported via road, rail, barge, ships, and pipelines.[1]

CTP companies have integrated supply chain and financial processes with a business ecosystem that includes customers, banks, industry technology hubs, toll manufacturers, raw materials suppliers, MRO suppliers, service-based suppliers, pipelines, transportation providers (truck, rail, ocean, and barge), terminals, and 3rd party warehouses. Internal computer systems are used to manage sales, marketing, and manufacturing process while highly reliable indusry networks are tightly integrate processes across company boundaries.

Automation in this industry segement is characterized by touchless order processing. This improves day to day supply chain service and reliability while increasing the percentage of “perfect orders". Most leading companies in this segment have automated automated their order fulfillment processes and are adopting inventory management solutions that monitor their customer's inventory levels, buying patterns, and demand plans.

References


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