Faced with seemingly contradictory demands for lower prices and higher service levels, chemical executives are increasingly rethinking the “one-size-fits-all” supply chain model. Having tapped out most traditional sources of savings, they now recognize that future profitability and growth will require a more creative approach. That approach will start with the customer and call for segment-specific supply chains that deliver exactly what the customer wants—nothing more and nothing less. While recent Bain & Company research in the chemical industry reveals that some organizations have taken initial steps in this direction, all would benefit from a more structured and comprehensive approach, one we call the “customer-led supply chain.” This approach will become even more relevant in the industry’s next cyclical downturn.