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Mlo Supply Chain

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LITERATURE REVIEW
Supply Chain Management is defined as a network of facilities that produce raw materials, convert them into finished products, and then deliver them to the end user. This process includes procurement, manufacturing and distribution. The basic objective of supply chain management is to “optimize performance of the chain to add as much value as possible for the least cost possible. In simplified terms, it links all supply chain activities as a means to “maximize productivity in the supply chain and deliver the most benefits to all related parties”.
In recent times, good logistics and supply chain management has increased the capability of businesses to achieve a competitive edge over its rivals. This is the core of the model …show more content…

Integration - Through vertical integration MOL and its supply chain management has a significant control over the whole chain including procurement, refinery, whole sale and retailing. Integrated process also creates value by reacting quickly for changes in the market, planning costly refinery shutdowns, having quicker information flow, making better marketing and logistics solution.
Information Technology - MOL’s IT solution is an essential tool which integrates the inputs of each division in a single model. This includes the optimal configuration and harmonized operation of refineries, petrochemical production, optimal procurement, and transfer between the refineries, refinery inventory holding, distribution as well as marketing cost and prices. This tool is also able to handle changes by modifying variables and considering possible or expected changes. For instance it can examine how any price change affect the optimum of business activity or which price change of products or raw materials forces a necessary change in the whole optimization

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