|Member since||Dec 4, 2019|
How agile is your chemical supply chain after covid-19? Trace amounts of chemicals can be found in almost every product we contact or use. Chemicals play a very important role in the production of basic products such as pharmaceuticals, detergents, disinfectants and protective equipment. At the economic level, the contribution of the chemical industry to development and growth has dominated for many years. In 2018, GCC's chemical industry revenue reached US $84.1 billion, and its production capacity reached 174.8 million tons, contributing 2.8% to the regional GDP. The International Council of Chemical Associations (ICCA) also disclosed that the chemical industry and its wage induction and supply chain have contributed US $5 trillion to the global GDP and created more than 120 million jobs in the world. Novel coronavirus pneumonia has been the main cause of the recent disruption of the chemical industry. The latter led to a 30% reduction in demand for chemicals in the automotive, ... Continue reading →
Chemical industry trend -- a brand new future ahead Great changes will take place in the future of chemical industry. Even companies involved in the chemical industry need to change. They need to be competitive in their work culture and see every challenge as an opportunity to grow in a new market. New trends in the industry are changing the work culture, which dominated the industry 10 years ago. Technical expertise, perfect business model, proximity of raw materials and sustainability of technology are no longer trends. This situation has been discussed on a global scale and is related to the coming generations of chemical industry. The following are the three most prominent chemical trends shortlisted. The rise of circular economy The desire to continue to operate is nothing new, because the early method is to use the business streamline to maintain the quantity of raw material supply, and then work according to the corresponding process; in the future, more attention will be paid ... Continue reading →
Covid-19, a pandemic in 2019, affects all aspects of our lives, affects various enterprises, and it is difficult to cross the challenges of competition and unknown waters. The virus not only affects the health of all people, but also changes the economy of countries. The heavy blow suffered by different economic sectors has not been let go of the chemical industry. The industry has experienced significant blowout and may be strongly adversely affected by the global chemical industry of covid-19. Large scale chemical industry is well known for its role in producing a variety of products, including drugs, plastics, fertilizers and packaging products. Challenges to chemical suppliers industry caused by coronavirus disease in 2019: The spread of the virus has shut down several production plants. Similar to the situation that several outbreaks have damaged the supply chain in important areas, with the rise of uncertainty level of the whole capital market and the global economy, the ... Continue reading →
The chemical industry is experiencing challenges related to business function transformation and streamlining operations. After all, in a world of super interconnection and fast pace, cutting unnecessary processes and optimizing resources must improve operational output. Chemical companies operate with a wide range of stakeholders to drive operations that require visibility and transparency. Chemical enterprises need to move from traditional platforms to updated, highly advanced software tools to improve the productivity of the plant. This change requires strategic restructuring, process reengineering and low-cost business blueprint. Business transformation brings about specific urgent problems. Chemical enterprises need to solve and maintain stable operation status. Legacy platform: The improvement of operation and process requires the use of automation, data analysis and machine learning. These technological innovations need to shift from traditional platforms to robust, high-tech ... Continue reading →
Unlike the recession in other industries, which is essentially cyclical, chemical companies are now experiencing major changes in the way they operate and serve their customers. Before the covid-19 pandemic, the trend of digitization in all industries was obvious, but now it is accelerating. The change of customer behavior during the pandemic may last until after the current crisis, which requires enterprises to build lasting digital capabilities. This paper discusses the deployment of industry 4.0 in the region and the world, and provides the latest development and challenges of GCC chemical industry. Deployment status of industry 4.0 in global chemical industry Most industries around the world recognize the role of digital technology in promoting innovation, efficiency and growth. Digitalization provides opportunities for the transformation of multiple business functions, but more importantly, it lays the foundation for further value creation. While digitization is changing most ... Continue reading →
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 ... Continue reading →
Digital transformation has become the gospel of every industry; however, many industries are still looking for ways to make full use of these technologies. The chemical industry is at the forefront of traditional and advanced software and systems. Many departments of the company work independently, need to write documents manually, the change management mechanism is slow, there are data differences, and they are generally backward in digitization and automation. chemical companies can solve these and many other problems by investing in high-end ERP system. The above data show that it is time for chemical companies to systematically restructure their it base and regard ERP as an option and a way to achieve sustainable growth. After all, every industry, including the chemical industry, wants to use Digitalization for its own benefit. The following are five advantages of ERP software system in chemical companies: one The digitization of the process accelerates the timeline: An ERP system ... Continue reading →
Digital transformation has become part of the fourth and most recent industrial revolution. Although many industries have made great progress in the digital transformation, the chemical industry has been in a backward rather than leading position. However, in order to remain competitive and explore new opportunities, many chemical companies are using digital technology to achieve more intelligent manufacturing, stronger customer relationship and faster innovation. The forefront of digital transformation is companies that no longer sell chemicals; they solve customers' problems by providing customers with improved services and customized special chemicals through new business models. Take the next step On the chessboard of the global chemical industry, leaders are well aware of the potential of digital technology, but many are still moving cautiously and selectively towards real change. Chemistry 4.0 strives to digitize and transform every element in the value chain, but new ... Continue reading →
Potential of realizing digital transformation of chemicals Advances in networks and sensors, data availability and processing, engineering and materials technology have considerable potential to expand the efficiency and productivity of the chemical industry. But the digital transformation of chemicals also provides important opportunities for increasing innovation in products and solutions. For example, the digital crowdsourcing platform can be used to conceive how to reduce the carbon footprint in the product life cycle. In order to realize the potential of digital transformation, chemical companies need a common framework to evaluate the current state, define the expected future state, and formulate specific steps in the digital journey. The company's digital maturity stage will guide strategic decisions and action steps in five dimensions that are critical to growth: User experience Talent support Asset reliability and performance Material system innovation ecosystem A ... Continue reading →
In recent decades, most of the chemical and material industries have seen only gradual innovation, with growth mainly due to the expansion of new geographic markets, and rarely from product innovation. At the same time, the industry is also facing additional pressure due to higher consumer requirements for personalization, sustainability and efficiency, which forces the chemical and material industries to innovate their business practices. Lux research outlines the cases that have been used in the chemical and material industry in its latest report, the digital transformation of chemicals and materials, and looks forward to how digital technology will reshape the pattern of chemicals and materials in the coming decades. "Business process driven innovation in the era is a tight competition, not just the characteristics of the product itself - chemicals and materials companies compete for customer experience and ability to keep low prices up their operations," explains Katrina ... Continue reading →
In used car trading, everyone is the winner - the former owner can unload the car he or she no longer needs, while the new owner can take a new car that belongs to him or her. In most cases, it is a mutually beneficial relationship that both sides can benefit from sales. The success or failure of the relationship between the buyer and the seller depends on the price of the second-hand car, especially when the buyer thinks the car is not worth asking for price at all. If you want to sell a second-hand car in many other options available, Albany, New York, there are several simple steps to make your car look as valuable as you want to be worth potential buyers, so that everyone is satisfied with the fast, happy business. 1. make it look good This may be the most obvious, but in used car trading, basic cleaning is often overlooked. Just because a potential buyer knows when buying the car that it won't be in the best condition, it doesn't mean he or she won't appreciate that ... Continue reading →
Companies such as BASF, Evonik, Borealis and Eastman are beginning to implement industrial 4.0 technology and artificial intelligence on a large scale. By improving operational efficiency, automating processes and strengthening R & D, people realize that if the market falls, these technological changes can stabilize profits and create more revenue streams. The potential of digital in chemicals to increase production, increase innovation and shorten value chains has been exciting. Now that these significant returns are seen, more companies are trying to benefit from digitization. Sensors, drives, cameras, and even tablet applications support this initiative. They help customers customize orders, automate logistics and transport processes, simplify inventory and improve telecommunications. With the support of sensory application, the potential of machine learning also excites people in this field. Increase production by 10% To achieve this goal, data is everything. Since the 1980s, ... Continue reading →
India is reducing its dependence on imported chemical products, especially from China, and producing them domestically. There are two reasons for this shift away from import dependence. First, the novel coronavirus pneumonia disrupts the global supply chain, exposing the risk of over import, especially pharmaceutical ingredients and chemicals. Second, at the time of the border dispute, India is strategically reducing its supply dependence on China. Petroleum and other chemical products account for a large share of India's imports. Many of them come from China. The Indian government has taken a number of policy measures to promote the production of domestic petrochemical products, raw materials and methanol, which is part of its so-called "self-reliance India" policy. In order to support the domestic chemical industry, China has increased its internal facilities in a large number of raw materials and chemicals. Production of methanol and ethanol in India The government of ... Continue reading →
Chemical manufacturers are one of the first companies to widely use digital technology. From the earliest digital factory controllers, they used data to improve their operations. Their R & D team has used a large number of data sets to find better molecules and processes. For at least 40 years, engineers have been using CAD systems to design their plants. However, in recent years, the chemical industry has lagged behind the banking, retail, media and telecommunications industries that have explored innovative ways to improve business with digital technology - not only in operation, but also in attracting customers and creating new values. Now, chemical manufacturer is reinventing to catch up. With the establishment of traditional competitive advantage sources (access to raw materials, scale assets, technology and market access), new business models are emerging, which may destroy the traditional value chain. In our collaboration with chemical industry executives, we have seen a ... Continue reading →
The easiest way to save money when buying a car is to buy a used car instead of a new one. When you buy a new car, as soon as you leave the dealer's parking lot, it begins to depreciate rapidly, losing considerable value in the first few years. When you used car trading, the original owner will bear the pain of its early sharp depreciation. If you buy a new car, you will spend much less. Second hand cars may need more maintenance outside the warranty period, and its financing may be more expensive. But choosing a car with good reliability predictions and low cost of ownership can save you a lot of money. Successfully buying a used car can be more complicated than buying a new car. It's more financially risky because you don't have a guarantee from the new car factory. In the used car trading, how to ensure safety has always been a concern. In the era of novel coronavirus pneumonia, you need to take more measures to protect yourself and your family. In this guide, we'll ... Continue reading →
In order to remain competitive in today's chemical industry, chemical manufacturer must maintain a high level of productivity. In addition, current problems, such as rapid commercialization, complex supply chain, aging assets and increasing demand for dynamic business plans, make it more demanding than ever to achieve productivity levels that drive differentiation and innovation. Manufacturers often fall into a pattern where they implement short-sighted cost cutting measures, which may have a negative impact on operational productivity and reduce the overall market responsiveness. To make sure you don't fall into these traps, it's important to understand not only the industry challenges you face, but also the top trends that are reshaping manufacturing. Acquiring this knowledge is the first step in building the foundations of digital transformation. This post summarizes the major challenges facing today's chemical manufacturer supply chain. If you want to learn more ... Continue reading →
In the chemical industry, getting close to customers and understanding their needs is a familiar and widely touted concept. For many chemical companies, it's also an elusive goal - and overall, the industry has a lot to do in this area. But companies that do this and succeed in becoming more customer centric are likely to find their efforts worthwhile. According to Accenture's 2020 global buyer value study, a significant proportion (46 per cent) of customers of chemical companies - the "buyers" - are willing to pay a significant price premium (at least 5 per cent) if all their needs are met. More people (56 per cent) are willing to significantly increase the number of purchases (more than 10 per cent). In short, chemical companies, or "sellers", can sell more and ask for higher prices if they are more customer centric and better understand their needs. When it comes to what buyers want, there are some factors that are quite common. Among the 11 chemical ... Continue reading →
A second-hand car company in India is making profits from uesed cars for sale to consumers who want to own a car, but their pockets do not allow them to pay for the front showroom. To make a profit, second-hand car distribution business must buy cars from the owners at a price lower than your price for sale in the future. The rapid increase of new car price and the increasing interest rate of automobile loan in the market have led to the shift of consumers' preference from buying new cars to buying used cars. Although they want to pay much lower than the price of new cars, they are only willing to make a little concession in terms of safety and performance. Read it if you're looking for the business ideas of used car dealers. Second hand car distribution business plan Business plan is the blueprint for successful business operation. When you have a predefined business plan, the scope of attempts and errors in the actual business scenario is smaller. Any business plan starts ... Continue reading →
There is no doubt that the current pandemic poses a serious challenge to a series of industries, destroying the value chain in an unprecedented way. But in the midst of chaos lies a greater opportunity to move forward than ever before. In the short term, pandemic has brought direct challenges to supply chain, manufacturing and demand management. In the long run, the accelerated pace of business and technological change will continue to bring more subversion at an unprecedented rate. To keep up, the chemical industry needs to change the way it operates. End to end processes and operations will need to be integrated and more transparent, combined with a realistic awareness of customer needs and the current environment. The information collected will enable chemical suppliers to make decisions and solve problems in novel ways. Challenges and opportunities under the "new normal" Although most companies have taken some form of digital transformation before the pandemic, many find ... Continue reading →
The era of chemical companies is changing Their customers, with access to information, are given greater power and have greater expectations of their supply base. Customers want to have a direct say in when, where and how to buy products and services. Therefore, the market has evolved into an individual centered state, and chemical companies provide customized products and services. In addition, rapid technological change enables the company to produce according to the fluctuation of customer demand. The popularity of connected devices and Internet of things (IOT) technology is creating new partnerships. New distribution channels connect suppliers and customers. Innovation is an important answer These subversive forces require chemical companies to reshape their corporate image and change their competitive market. Innovation will be the key difference. To understand the performance of chemical companies in the face of these changes, IBM Institute of business value and Oxford Institute ... Continue reading →
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