Industry overview
Resource scarcity, environmental impact, and changing consumer expectations call for innovative business models and platforms in support of a circular economy. Due to its early position in the value chain, sandwiched between energy and feedstock players and consumer industries, chemical companies are predestined to play a pivotal role in the transformation of the entire ecosystem.
In addition, the need for sustainable, reliable, innovative, and trusted products and services requires chemical companies to ensure safety and integrity along the entire value chain and lifecycle of products. Making Industry 4.0 a reality, intelligent technologies will support bridging data across the organization, from operational performance data to experience data, and help companies make sound business decisions to make sustainability profitable and profitability sustainable.
Siloed data and processes. Single plant view
Integrated operations management
Increase Operational Efficiency
Initially, companies aim to enhance operational efficiency by leveraging IoT, machine learning, and digital twins to shorten processing times, boost first-pass yields, and increase equipment effectiveness. Subsequently, they plan to foster connections and collaborations across the supply chain, utilizing predictive analytics for improved demand forecasting and supply balancing. This also includes preparing for disruptions with real-time contingency planning. Ultimately, the goal is to achieve a level of autonomy in enterprise operations through the comprehensive automation of routine tasks using machine learning, moving closer to the concept of an autonomous enterprise.
Siloed data and processes. Single plant view
Enablement of a circular economy by a collaborating ecosystem
Collaborate through Business Networks
Initially, chemical firms will work closely with customers to grasp market demands and sustainability needs, fostering joint innovation in product development and sharing crucial data ranging from demand to order fulfillment. Concurrently, they'll form networks within an ecosystem to streamline product development, production, and delivery, encompassing suppliers, manufacturers, and service providers to ensure the swift delivery of sustainable products cost-effectively. Ultimately, these companies aim to create unique, innovative products and business models aligned with broader goals, like contributing to the circular economy.
Spreadsheets and manual work for strategy and portfolio planning
Real-time, data-driven digital boardrooms for strategic decision-making
Sell Business Outcomes, not Products
Chemical companies are moving towards enhancing customer experiences through personalized interactions, leveraging sentiment and behavior analysis. They aim to innovate through intellectual property databases and predictive analysis for faster product development and compliance monitoring. Integrating Industry 4.0 technologies, they'll gain insights for new opportunities like predictive maintenance and improve logistics tracking. By participating in open innovation platforms, transforming data into services, and adopting customer-centric revenue models, they strive to enhance quality while minimizing costs and risks, ultimately driving transformative business outcomes.
Selling products
Selling business outcomes
Improve Strategic Agility
Chemical firms will evaluate their product and service profitability using detailed real-time data covering all costs from development to delivery. Next, they'll integrate external market and internal data into strategic scenario simulations, like mergers or acquisitions (M&A), to gauge impacts on KPIs and performance. They'll also address stakeholder concerns from M&As proactively. Finally, post-M&A, firms will reorganize around updated portfolios, leveraging consolidated financial data for real-time monitoring of restructuring effects.
Of the chemical industry executives surveyed plan to increase their digital spend
Of chemical companies are rethinking how humans and machines work together.
How we can help
Thorough discovery and analysis phase to understand your specific business needs and challenges. Utilize technology as the base for application integration, extension, and access to a robust ecosystem, including AI solutions.
Leverage industry-leading business applications across both front-end and back-end systems.
Combine all elements to support customer-specific, end-to-end industry processes essential for digital transformation and operating as an intelligent and sustainable enterprise.
Our
use-cases
Accurate Data Insights For Efficient Dairy Farm Operations
Transforming Sales Processes in Global Transportation and Logistics
