Pre-pandemic supply chain won't come back: expert 【Petrochemical industry, Net-Zero, World Petrochemical Conference】

2022.03.23 SOURCE:Xinhua

HOUSTON, March 22 (Xinhua) -- Supply chain before the pandemic will not come back and the world needs to accept "this new normal", an expert said at the 37th annual World Petrochemical Conference (WPC) starting Tuesday in Houston, the largest city in the U.S. state of Texas.

"Whatever you thought about your supply chain pre-pandemic, throw that book out the window," Lynn Stacy, a speaker with the OEC Group, said at a WPC panel. "The only way to fix your supply chain is to accept this new normal."

In his viewpoint, prices will run high, congestion delays will continue, while space and equipement are expected to remain scarce. All are major factors behind the current supply chain bottlenecks.

"Plan for the worst, hope for the best," Stacy said. "Plan for the highest cost, longest transit time, and longest free time."

With the theme of "Navigating towards Net-Zero: Seeking a Sustainable and Valuable Chemicals Future through Integration and Innovation," the annual WPC looks into key issues facing the petrochemical industry ranging from geopolitical impact to plastic recycling technology. Supply chain is one of its focuses.

The four-day conference attracted nearly 1,500 attendees with some 550 companies from over 45 countries and regions across the world, according to the organizers.