Procurement and Supply Chain Key drivers for delivering sustainable added value By Nando Galazzo LogiChem 2011 will be the event's tenth anniversary and an opportunity for the most senior chemical supply chain & global logistics directors from the European chemicals community to come together once again share experiences, make new contacts and benchmark the latest chemical supply chain initiatives. Not only will LogiChem 2011 be a chance for the chemical industry to reminisce about the last ten years but an opportunity to shape the next decade. To celebrate a decade of LogiChem, there will be an exciting three day programme filled with networking opportunities in our new location, Antwerp.

1. Procurement and Supply Chain
Key drivers for delivering sustainable
added value
Nando Galazzo – Former VP Procurement Borealis
Managing Director – Transitive Management
Logichem 2010
Copyright © 2005
Borealis A/S

2. Credentials
• Board Member of the Supply Chain
Council ( SCC inc. )
• Vice-Chairman SCC ELT
• Former VP Procurement Borealis
• Managing Director Transitive
Management
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3. Outline
Presenting Borealis Borouge
Macro Factors: Changing Markets & Volatility
Classical “Must-be” Response
Rethinking strategies
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4. Borealis at a Glance
• Leading provider of innovative, value creating
plastic solutions
• Developing Base Chemicals business
• More than 40 years of experience
• Unique Borstar® technology to develop polyolefin
solutions that are tailored to customers’ needs
• About 5,400 employees in 20 countries
• Ownership 64% IPIC / 36% OMV
• Joint venture in Middle East and Asia: Borouge
(Abu Dhabi)
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Borealis A/S
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Presenting Borealis
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5. Borealis and Borouge Locations
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Presenting Borealis
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6. Commitment to Value Creation through
Innovation Secures Future Growth
‘Commodity’ path
Reduce
Feedstock Olefins Polyolefins Converters End users Consumers Recycle
Recover
‘Value Creation’ path
Reduce
Feedstock Olefins Polyolefins Converters End users Consumers Recycle
Recover
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7. Macro Factors
Changing Markets and Volatility
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8. Demographics
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9. World Demographics: It is getting crowded !
Population Years
Year
Millions to double
-81000 0.2 20000
-10000 10 19000
0 200 1200
1700 800 500
1900 1500 200
1960 3000 60 ... Crowded indeed
2000 6000 40 but not equally
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2009 6800 around the Globe ...
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10. Population … who is biggest in 2050 ??
China 1.4 billion (+0%)
India 1.6 billion (+30%)
N.America 600 million (+40%)
Europe 750 million
(helped by massive integration from East)
And we are getting OLDER, Europe is leading,
median from 39 years to 47 years in 2050.
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11. GDP & Unemployment
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12. Percentage of World GDP
2004 2025 est. 2050 est.
EU 34 % 25 % 15 %
US 28 % 27 % 26 %
Other 20 % 21 % 10 %
China 4% 15 % 28 %
Japan 12 % 7% 4%
India 2% 5% 17 %
Source: Business Week Aug 2005
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13. Outlook 2007 – GDP % Growth
Where do we go now ?
12.0
10.0
8.0
?
Annual change, %
6.0
4.0
2.0
0.0
1995 2000 2005 2010 2015
WE USA EE China India
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14. Unemployment gap widens
Unemployment Statistics 2006 - July 2009
March 06 March 07 March 08 March 09 Jul-09
EU 26 8.4 7.3 6.7 8.3 9.5
Germany 8.7 8.6 7.4 7.6 8.9
UK 5.0 5.5 5.2 6.6 7.7
France 9.1 8.6 7.6 8.8 9.9
Spain 8.7 8.1 9.5 17.4 18.7
US 4.7 4.4 5.1 8.5 9.1
Japan 4.1 4.0 3.9 4.4 5.4
China (1) 4.3
Taiwan 6.0
Hong Kong 5.4
Australia 5.8
(1) Urban Economy Official Stats - 9.4 % July 09 according to other sources
Source OECD
How fast will employment
and consumption rise
after the financial crisis ?
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15. Cost Drivers Volatility
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16. New Perspectives for Cost Drivers
2007- 2008 2009
?
Expected Scenario Reality
• Short Markets • Long Markets
• Maintained Margins • 20-40 % Margins Squeezes
• (Self) Sustainable Growth • High Volatility
... and next years ?
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17. Overheating Commodity Markets
2007 perspective .... and now ?
"The possibility of $150-$200 per barrel seems
increasingly likely over the next 6-24 months,
though predicting the ultimate peak in oil prices
as well as the remaining duration of the up cycle
remains a major uncertainty.” (Goldman Sachs,
May 2008)
Can you
Forecast
your Markets ?
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18. Cost drivers…. Are they driving you?
• How much do you know about the real picture?
• Can you mitigate some of the cost escalation scenario?
• Is there any value to include cost drivers into contracts?
• Will price revision clauses work for your contract ?
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19. Beyond and over the Downturn
Market Swap: EU M-East / Asia
The real “Storm” still to come
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20. The financial crisis ...
... a storm which only comes on top
• Banking Crisis
• Cash Flow Management
• Investments / CAPEX stopped
• Governance
• Risk aversion
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21. External challenges
Polyolefin Demand Growth 2005-2020
35.9
31.1
39.0 26.9
33.7 22.8
30.0
25.2 48.0
34.7
25.3
2005 2010 2015 2020 18.6
7.3 9.1
2005 2010 2015 2020 4.2 5.8
2005 2010 2015 2020 2005 10.3
2010 2015 2020
5.3 7.4
3.6
8.2 10.0 2005 2010 2015 2020
5.5 6.8
2005 2010 2015 2020
LD LLD HD PP
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22. External challenges on top of Downturn
Ethylene Equivalent trade 2006 2011
(million tonnes)
20
15
10
5
0
-5
MEG
• Demand shift to Asia
-10 HD • Simultaneous capacity expansions in Middle East
LLD 2009-2012
-15 LD
• Major Global Demand/Supply unbalances by 2010Asia
USA SAM Europe M East ISC
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• Tight Supplier Markets
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23. The Classical Response
of Companies
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24. Adding Supply Chain Value in Procurement
COMPETE OR COLLABORATE
Arm’s length... OR Sustainable Value Creation
... a la Lopez ? through Innovative,
Collaborative Partnerships
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25. Most companies developed collaboration, ...
... Yes But
• Focus on CASH flow (DPO, DSO, DOI)
• Mitigate Supply Risk (Monitoring Suppliers)
• Squeeze Fixed Costs + Variable Costs
10-20% boost to 3 times
reduction normal Productivity
• Shorter Contract Terms
• No Firm Commitment / Liabilities
But is that enough beyond the downturn ?
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26. Optimizing cash-to-cash cycle time
Getting DPO, DSO, DIO in Balance
Working Capital Days
Reducing the DSO / DPO
gap, but challenging to
bring all 3 to balanced
level sustainably
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27. Critical supplier monitoring
Risk AND Mitigation plan
Current Current Date of
Sourcing Risk Risk Mitigation last
Area Supplier status Level status Comment Action update
Follow closely and work out back-up May 29,
Packed ZZZZZ GMBH High solution. Business is being moved away 2009
1. Put automatic financial tracker via D&B
for early warnings on new fiancial
info/downgrades etc...
2. Design plan B; for each XXX route, who
could take over immediately
3. Discuss with MH plan B for container
terminals
4. Update from XXX through Proc
Manager and evaluated by Credit: April 29,
Bulk XXX Ltd High Company's financials described as stable. CEO/CFO meeting held. Plan B being developed 2009
Prod A supply to Plant X: due to the high Crisis team established, official request sent to
level of fines contained in the RM batches YYYY to 1) get approvel to conduct audit at US
catalyst supply only secured until mid of production plant,2) strictly operate according to
May, major concern to lose xx kt of the decision flow diagram to find the roote cause,
business volume in May, impact on 3) continue the production of Prod A until agreed June 9th,
RM YYYYY GMBH High subsequent months not yet known safety stock level has been reached 2009
High risk of business failure. Followed June 9th,
RM ABC ABC Ltd High closely together with credit department Working on own product substitution 2009
Represents a high risk of business failure.
The financial strength is not discclosed to Sep 9th,
Tech ZZZZZ, UK High D&B. In direct contact with ZZZZZ 2009
Private company publishing no results.
D&B score improved from 61 in March'08
Medium to 75 in Dec 08, down to 72 in Feb 09. In direct contact. on going
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Tech XXX & Brothers, NL
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28. Rethinking Sourcing Strategies
Preparing for
Post-Downturn Conditions
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29. Rethinking Mid Term Sourcing Strategies
Priority 1 Cash Generation
Priority 2 Value Creation
Relationship MGT:
• Rebuilding
Next
• Retaining
• Resilience
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30. Creating New Value
REDUCE
What factors should
be reduced well below
industry standard ?
ELIMINATE CREATE
What factors should New What factors should
be eliminated that
the industry has taken Value be created that the
industry has never offered ?
for granted ?
What factors should
be raised well beyond
the industry standard ?
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RAISE
Borealis A/S
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31. Value Creation Directions
• Reinforce Procurement into S&OP and Supply Chain Processes
• Receive view on business requirements, volatility, priorities
INTERNAL • Provide view on critical resources capabilities & risks
• Faster, prioritized, purposeful response
• Articulate, Activate and Share Relevant Metrics end-to-end
• Implement New Supplier Relationships Management
consistent with company strategy and tactical plans
EXTERNAL
• Sustain supply capacities, capabilities
• Mitigate risks
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32. Stronger Involvement of
Procurement in S&OP
Implementing Relevant Metrics
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33. Procurement in S&OP
2007
No Permanent
Involvement
2008
Procurement in
Asset MGT Meeting
2009
Improved visibility
Interactivity
Faster Response
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34. S&OP Critical resources risk mgt
Types of Supply Risks
Define Business Risks 1 Availability
2 Cost
3 Regulatory/legal
4 Contractual - what happens if Borealis demand falls dramatically in the storm
Classify, Prioritize 5 Financial/Currency
Risk Classes 6 Quality
7 Health & Safety
8 Others
Identify key factors on Severity
Probability
Supply Market side 1 2 3 4 5
5 5 10 15 20 25
4 4 8 12 16 20
3 3 6 9 12 15
Apply to Critical 2 2 4 6 8 10
Resources 1 1 2 3 4 5
RISK SCORE MITIGATION
Manage High risk 20-25 Immediate action to be implemented together with Asset Team
Interactively Medium risk 10-19 Define action and execute in agreed timeframe
Low risk 1-9 Acceptable risk
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35. Alignment, Articulation, Sharing in SC
► Company Performance Metrics & Scorecard
Align
► Supply Chain Operational Metrics & Scorecard
&
► Procurement Metrics and Scorecard
Share
► Share among key SC Partners
Customer Facing: Top Line Internal Facing: Bottom Line
• Value Creation
Perfect Order • Cost Containment
Fulfillment • Supplier Reliability COGS
• TCO
Responsiveness • Source Cycle Times Total SC • Logistics Sourcing
Flexibility • Source Flexibility MGT Cost • Execution Efficiency
• DIO
Cash to Cash
• DPO
• Supply Risk Mgt
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Value at Risk
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36. SC Metrics impacting Top and Bottom Lines
Procurement impact
Direct / Indirect SALES
Perfect Order Fulfillment
Order Fulfillment Cycle Time
Flexibility
EBIT -
Inventory
DOI
ROIC-NOPAT x Total costs
Total SC Mgt costs (TSCM)
COGS
Tax Rate
EVA: Economic
Value Added
-
A/R
WACC: weighted DSO
avge cost of cap
Fixed
Capital/assets
Cost of Capital x Return on SC fixed Assets
TCO
A/P
Net invested
Capital + DPO
Cost Attack
Maverick Compliance
Working capital +
Cash-to-cash cycle time
Return on working capital
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Other credits &
Borealis A/S
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37. Developing Winning Collaboration
with
Suppliers and Service Providers
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38. This calls for new concepts for value creation:
CLASSICAL PROCUREMENT
• Best Country sourcing
• Total Cost of Ownership
Articulating
Ingredients
+ for new
Procurement
Vision
NEW PARADIGM
• Supply Chain Integration
• Fully Collaborative Relationships
• Value-sharing
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39. Collaboration in Innovation
The Innovation Competitive
Matrix
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40. Mapping and Understanding Opportunities
Competitive Advantage
The
The
Competition
high
Innovation
Focus
Quadrant
Pool
☺
low
low high
☺
Relative Importance of the Innovation
Customer
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41. Applying the Innovation Competitive Matrix
Borealis Supplier
Innovation Index
Innovation Index
KEY IP
Initiative 1 A
Initiative 2 B
Competitive Index Competitive Index
Initiative 3 C
Initiative 4 D
Borealis Maps Innovation Initiative 5 E Supplier Maps Innovation
Initiative 6 F
Opportunities in Matrix Opportunities in Matrix
Initiative 7 G
Initiative 8 H
Mutually benefiting Innovation Pool
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Projects resourced by joint C-level Steering
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42. The BOB Supply Management Network
• Virtual Organization
Borouge • Started 2006 from joint 3 VP Proc initiative
Supply • Objective: Leverage Across Supply Networks
Network
• Spend, Opportunities, Visibility
• Resources, Tools, Knowledge
• Capacities, Working Capital
• Provide Strategic Opportunities to Suppliers
Compared to previous model
OMV-Petrom Borealis
Supply Supply Procurement Savings boosted by 500 %
Network Network Teams Productivity increased by > 30 %
Shared Lead Buyer Resources
Suppliers’ Awareness and Reach simplified
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43. SC Operational Collaboration
Business Case
Borealis – Degussa
Using SCOR across enterprises
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44. Supply Chain Operational Collaboration
• We create Supply Chain visibility
• Use of the SCOR roadmap and analysis tool kit
• Experts talk to Experts
• Customer Service to Planner
• Project leader to project leader
• Account manager to buyer
• We share performance targets (common SCORcard)
• Reliability: Delivery performance & Forecast accuracy
• Responsiveness: lead-time
• Cost: Deliver cost
• Cash-to-Cash: Supply Chain Inventory
• We extract value and share
Total Business Volume: > 10.000 tons and > 30 Mio. € revenue
24 Products, 8 Countries, 21 Production sites, 30 Shipping points
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45. Overview Supply Chain Peroxides
SCOR Level 2 – bottlenecks and opportunities
S1 OMF growing volume potential for
Empty packaging --> opportunity to value Quit COA and promote SQC M1 D1
consolidation transportation, for
waste ? ERS or invoicing plan --> potential ? OMF - Polymerchemie
Polycom and Polymere
S1 M1 D1
OMF - Polycomp
M2 D2 M1 M1
S1 D1
BLK PCK
Eylria
Bottlenecks
Borealis Kallo (BE)
M1 M1
S1 D1
BLK PCK
Combine shipments to optimize container fill-rate :
identified,
6
Realize strategic Vision PP%: S D
Borealis Beringen (BE)
use of planning calendar ?
Strategic Vision Import Hafen
Improved purch. Req. processing (collective by vendor)
M1
measured,
S1/S2 M1
D1
BLK BLK
2
Borealis Schwechat (AT)
M1/M2 D1/D2 S1/S2 D1/D2
and prioritized for
Peroxide
S1
2
Pullach Production Warehouse Pullach M1 M1
S1 D1
BLK PCK
Borealis Schwechat (AT)
7
Borealis
solutions
Burghausen
S1
LT reduction opp Got --> Sten, in Got. Degussa keeps
M1 D1
10868/19 sales + Buffer some containers, in Sten, Borealis kepts
Standard LT could be reduced from 15 days to S1 M1 D1 some tons of safety stock. Do we really need GOT
8 days 11424
storage location ?
M1 S1
D1
BLK
S1
M1 M1
BLK BLK D1
Why not relocate product from US to S1
Pullach plant Borealis Stenungsund (SE)
S1 D1
Japan M1 M1
S1 D1
BLK
4
PCK
SC today --> Degussa US (6 weeks LT)--> Pullach --> Bamble
Borealis Porvoo (FI)
Why not : Degussa US --> Bamble. Elements to be considered :
D1 S1 D1 S1 D1
M1 M1
S1 D1
BLK BLK
Indonesien Rotterdam Warehouse Göteborg, ANT
5
Forecasts sent to Malmö & info sent to Pullach
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Borealis Stathelle, Ronningen (NO)
Why not to send straight to Pullach ?
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46. One set of SCOR performance metrics
Continuous improvement monitoring
DEGUSSA BOREALIS
Supply Chain SCOR-Card (Level 1) Supply Chain SCOR-Card (Level 1)
Median Best in class
Median Best in class
Overview Metrics SCOR Level 1 Metrics Total BU PE PP Process Process Industry
Overview Metrics SCOR Level 1 Metrics Total BU PE PP Process Process Industry
Industry (02/05)
Industry (02/05)
Supply Chain Delivery Performance (Commit date)
Supply Chain Delivery Performance (Commit date)
BOREALIS 95,5% n.c. n.c. 92% 99%
Reliability BOREALIS 95,5% n.c. n.c. 92% 99%
E X TE RN A L
DEGUSSA (per) 72,7% Reliability
EXTER NA L
Order Fulfillment Lead Time 18,5 [days]
DEGUSSA (per) 72,7%
SOURCE (peroxides - MTF) 15 [days] Order Fulfillment Lead Time 18,5 [days]
Responsiveness SOURCE (peroxides - MTF) 15 [days]
MAKE (MTF) 1 [days] 1 [days] 1 [days] Responsiveness
DELIVER 3 [days] 3 [days] 3 [days] MAKE (MTF) 1 [days] 1 [days] 1 [days]
Supply-Chain Flexibility 95 [days] 5 [days] DELIVER 3 [days] 3 [days] 3 [days]
SOURCE (per) ? [days] Supply-Chain Flexibility 95 [days] 5 [days]
Flexibility
MAKE 240 [days] 240 [days] 240 [days] SOURCE (per) ? [days]
Flexibility
DELIVER 0[days] 0 [days] 0 [days] MAKE 240 [days] 240 [days] 240 [days]
Total Supply Chain Management Cost 9% 11% 7% 10% 2% DELIVER 0[days] 0 [days] 0 [days]
Cost Cost of Goods Sold 91% 86% 94% 78% n.c. Total Supply Chain Management Cost 9% 11% 7% 10% 2%
Value-Added Productivity per payroll € 2,7 [€] 3,7 [€] 3,2 [€] 2,3 [€] n.c. Cost Cost of Goods Sold 91% 86% 94% 78% n.c.
IN T E R N A L
Days of coverage (per) 32,7 [days] Value-Added Productivity per payroll € 2,7 [€] 3,7 [€] 3,2 [€] 2,3 [€] n.c.
IN T E R N A L
Inventory Days Of Supply (RM) 3,8 [days] 7,4 [days] 1,8 [days] Days of coverage (per) 32,7 [days]
Inventory Days Of Supply (all) 29,5 [days] 45,9 [days] 19,9 [days] 51,3 [days] 40 [days] Inventory Days Of Supply (RM) 3,8 [days] 7,4 [days] 1,8 [days]
Cash Cycle
Days of Sales Outstanding 47,7 [days] 70 [days] 33,5 [days] n.c. n.c. Inventory Days Of Supply (all) 29,5 [days] 45,9 [days] 19,9 [days] 51,3 [days] 40 [days]
Days of Payables 28,8 [days] 51,3 [days] 17,1 [days] n.c. n.c. Cash Cycle
Days of Sales Outstanding 47,7 [days] 70 [days] 33,5 [days] n.c. n.c.
Cash-To-Cash Cycle Time 48,4 [days] 64,6 [days] 36,3 [days] 55,1 [days] 40 [days] Days of Payables 28,8 [days] 51,3 [days] 17,1 [days] n.c. n.c.
Assets Asset Turns 3,6 turns 2,4 turns 5,3 turns 1,4 turns 4,5 turns Cash-To-Cash Cycle Time 48,4 [days] 64,6 [days] 36,3 [days] 55,1 [days] 40 [days]
Assets Asset Turns 3,6 turns 2,4 turns 5,3 turns 1,4 turns 4,5 turns
COMBINED
Degussa - Borealis Supply Chain SCOR-Card (Level 1 & 2)
Best in class
Median
Actual "To-be" "To-be" Process
Overview Metrics Shared SCOR Level 1 Metrics Competition Process
"As-is" (progress) (success) Industry
Industry
(02/05)
EXTERNAL
Delivery Performance (Requested Del.
date)
Supply Chain
73% 85% 95% 92% 90% 95%
Reliability
Forecast accuracy
65% 80% 90% 75% n.c n.c
Order Fulfillment Lead Time
Responsiveness
SOURCE (peroxides - MTF) 15 [days] 8 [days] 10 [days] n.c
SC Avg 2005 Inventory qty (Tons) - 10% 20%
332
Peroxides reduction reduction
IN T E R N A L
SC Avg 2005 Consumption qty
Cash Cycle 202
(Tons/Month) - Peroxides
SC Inv days of supply (days) -
50 [days]
Peroxides
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47. Degussa – Borealis collaborative work
SC Performance Attribute Metric Results
OTIF From 85 to 93%
Reliability
Forecast accuracy From 60 to 76%
Responsiveness Avg Lead-time 40% reduction
SC cost Transportation cost 40% reduction
Working capital SC Inventory 18%-60% reduction
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48. Conclusion:
“The best way to predict
the future is to invent it…”
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49. Thank you !
Nando.galazzo@transitivemanagement.com
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