Optimal budget and cash flows during retrofitting periods in batch chemical process industries

This paper addresses the implementation of financial cross-functional links with the supply chain operations and retrofitting activities at plant level when scheduling and budgeting in short term planning in batch process industries. The target is to obtain trade-off solutions during the routine practice preserving at most the profit and liquidity while satisfying customers. The platform built combines a deterministic cash flow management model with an advanced schedule algorithm using a MILP formulation. The methodology heightens the decision-making capacity of the chief executive officer (CEO) and chief financial officer (CFO) in complex scenarios levering the possibilities to the new breakthroughs necessary today. The benefits of this work are shown through a case study that illustrates the modelling framework, the information flows and procedures necessary to implement a financial/supply chain scheduling methodology to aid the high level staff during planning and budgeting activities.