Ever since the mid-year meetings held by ChemChina and ChemChina Petrochemical Corp, Shandong Changyi Petrochemical Co Ltd (Changyi Petrochem) has been dedicated to planning the second half of 2012 and comprehensively improving corporate management.
To improve purchase management, Changyi Petrochem has established a system to closely track the raw materials market, while calculating the profits and contribution margins of every raw materials purchase based on its monthly manufacturing plan.
In planning management, the company has kept records on equipment performance to prevent malfunctions and ensure the fulfillment of manufacturing targets. The company has processed more than 1.87 million tons of raw materials, 98.4 percent of the planned 1.9 million tons for the January-July period. The progress brings the company a huge step closer to the annual target of 3 million tons.
The company inspects every step in manufacturing in order to find the most efficient operation model, trying to shift from extensive to intensive growth through better management, cost cutting, and product quality and work efficiency improvements.
The company has also paid great attention to eliminating major equipment defects in a timely manner to increase the serviceability rate and utilization rate.