Details Count in a Tight Market
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The chemical industry is experiencing a resurgence ... but with higher costs and heated competition, it’s critical to keep close track on the marketplace — as Arkema Inc. does.
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America's leading export sector, the chemical industry was buoyed by news that 2003's resurgence in demand was sustained through 2004.
| Still, optimism is tempered by caution: Feedstock and energy costs remain high, the bills for environmental safety and security programs are coming due, and the competition from Asia and the Middle East is heating up. To make it in this environment, companies need to recognize new gains in productivity, pursue innovation ... and be ready to adapt quickly to a rapidly shifting market.
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PIERS trade data supplies the fine detail chemical companies need to spot the small advantages that may make all the difference. "There are other sources for import data, but only PIERS data supplies detail down to the individual shipment," says Susan Hunsicker, Manager of Information Resources for Philadelphia-headquartered Arkema Inc. (formerly Atofina Chemicals, Inc.).
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Hunsicker's organization uses PIERS data to monitor U.S. trade in Arkema's product categories. Her primary in-house clients are the marketers in Arkema's diverse business groups. "We use the data to find and qualify new customers," she says, as well as to track trends.
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The data is useful, too, in locating sources of supply. "The PIERS data is unique in that it enables us to search for a specific chemical. Many chemicals can be lumped together under a tariff code - 'other aromatics' let's say. PIERS data doesn't stop at the tariff code. You can search the data by chemical name."
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According to Hunsicker, PIERS enhanced detail on current transactions has also been used by Arkema to set the parameters when negotiating new supply contracts. There have been other, unanticipated benefits: "It has happened that we've identified imports of chemicals that can only be produced by Arkema-patented processes," she says. "The PIERS shipment data provided clear evidence of infringement."
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