Opportunities and risks for chemical companies

by Jessica Jackson on Apr 7, 2021 Business 4 Views

For most chemical companies, vigilance is rapidly becoming a key theme, especially as we enter a new decade full of disruptive opportunities and risks.

Some of the opportunities and risks include:

Through prediction model and machine learning, we can establish new business model and optimize operation

Business platform technology is widely adopted to expand industry boundaries and create an ecosystem driven by collaboration, integration and innovation

Continuing threats from high cost of capital, volatile raw material prices, volatile geopolitical climate, massive commoditization and massive regulation

In a perfect world, meeting these challenges is as easy as embedding intelligence such as machine learning into business systems and processes. Unfortunately, today's industry reality demands more - new sources of value and unique skills that can change the value chain and business model.

The whole industry is facing huge risks. But for many SAP customers, SAP chemical model services are accelerating and simplifying the path of competitive business transformation.

What is SAP chemical model?

SAP chemical modeling is a company with insight, knowledge and lessons learned from decades of cooperation with chemical industry companies. The service is an evolving portfolio of up-to-date reference solutions, industry best practices, and master data all designed to provide the knowledge and skills needed by chemical companies to optimize end-to-end processes and improve decision-making capabilities.

For many customers, SAP chemical model company is a key component of their accelerated transformation to sap s / 4hana. The service has a company model library covering a large number of core processes. It also allows customers to experiment and test new use cases to stimulate innovation in areas such as product development, safety and management; manufacturing and procurement; sales, logistics, asset management; and its monitoring. It also supports industry-specific topics, especially batch traceability, active ingredient subcontracting, quality control, and compliance.

SAP chemical models is also helping customers redesign their processes. By providing a blueprint for their business to select and implement the right intelligent technologies and analytical capabilities, customers are experiencing significant changes in product safety and management as well as tank level monitoring.

As new innovations continue to be added to the model company portfolio, more effective practices are introduced into functions such as compliance, sales, safety data sheet management and dangerous goods management.

Rediscover your advantages with unprecedented business value and wisdom

The charm of SAP chemical model is that it has the potential to turn every business improvement into an opportunity and shape success in the next few years. Whether it's simplifying existing processes, optimizing decisions, increasing revenue and profits, improving customer satisfaction, or taking advantage of emerging opportunities, chemical companies can set priorities and use the right digital tools to drive the right changes.

Article source: https://article-realm.com/article/Business/11450-Opportunities-and-risks-for-chemical-companies.html

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