Value stream management: the next frontier in supply chain management

Solid refractory compositions comprising an inorganic particulate refractory material and a carbonaceous binder therefor comprising a substantially carbonized phenol-aldehyde condensate resin chemically modified by reaction with lignin and/or molasses. The refractory compositions of the invention are characterized by an enhanced bending strength even at extreme temperatures and a desirable diminished porosity compared to comparable refractory compositions having carbonaceous binders derived from conventional phenol-aldehyde resins.