Speakers highlighted logistical efficiency as a top industry priority in the GCC as traditional supply chains across the globe are evolving towards a connected, smarter and increasingly more efficient ecosystem.
Held under the theme, ‘Agile and Efficient GCC Supply Chains – The Role of Technology’, the conference brought together industry experts who discussed the benefits of supply chain digitization in a complex and changing marketplace.
In addition to logistical efficiency, other challenges such as nascent infrastructure, complicated protocols and mounting geopolitical risks were also drawn attention to at the conference. Within digitization, the role of technology in enabling petrochemical companies in the region become leading global players and distinct opportunities to leverage technology to improve agility and efficiency of a supply chain were discussed.
Petrochemical production growth
The GCC is currently the second-fastest growing region in terms of petrochemical production globally after China, growing by 9% per annum between 2005-2015. Going forward, expansions are set to continue, driven primarily by Saudi Arabia, Oman and the UAE, which collectively plan to add about 14 million tonnes per annum of petrochemical capacity by 2025.
To address these factors, companies are working on several programs, including streamlining documentation and attestation. The role of digitization in enabling this shift was highlighted, with technology making supply chain operations more efficient from the point of view of a petrochemical producer as well as that of logistics providers.
Dr Abdulwahab Al Sadoun, secretary-general, GPCA, said: “Through close collaboration with industry partners, including logistics service providers, GPCA has been advancing service standards that enable more sustainable and transparent operations. These are furthering national visions of regional governments and reinforcing the GCC’s position as a distinctive logistical gateway.”