OPINION
4 WAYS DIGITALIZATION IS TRANSFORMING PROFITABILITY IN THE CHEMICALS INDUSTRY The worldwide chemicals industry is undergoing a period of rapid change. Global supply chain disruptions have plagued chemical companies. Meanwhile, governments and industry organizations continue to adopt ever-stricter environmental regulations, which presents chemicals manufacturers with a moving target as they strive to stay ahead of new sustainability mandates.
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hat’s more, a retiring workforce invites the possibility of a shortage of skilled labor, forcing companies to find new ways to transfer institutional knowledge and train new workers. In short, the chemicals industry will need to surmount many hurdles in the coming decades, and the stakes have never been higher. Fortunately, with the rapid and recent advances of industrial technologies – powered by artificial intelligence, big data, and the cloud – forward-thinking digital solutions now offer a way to overcome these challenges and improve plant profitability and sustainability.
collaborate on the same designs at the same time, promoting efficiency and eliminating rework. Cloudenabled data makes information visible to all relevant stakeholders and gives engineers flexibility in where and how they access data. As a result, projects can be executed faster, and at lower cost and risk. Demand shifts and market fluctuations While market volatility, supply chain shocks, and the commoditization of products represent significant business hurdles, they are not insurmountable. With more accurate operational data and a model-driven execution process, chemical manufacturers can improve product quality, reduce waste and emissions, increase energy efficiency, and be better positioned to drive the emerging circular economy.
DIGITIZING YOUR PLANT By digitalizing work, chemical companies can drastically improve collaboration and efficiency. By enabling work in a digital environment, workers can complete tasks from anywhere in the plant, at different sites, or in remote locations, so operators can accomplish more than ever before. They can use the time to drive continuous improvements as opposed to merely solving problems, which increases overall efficiency and helps companies build resilience. Not only do digital tools enhance enterprisewide collaboration, but they can seamlessly unify operations and supply chains, thereby opening new pathways for information flow and breaking down silos. These new ways of working, based on common data platforms and global visibility, help companies become more profitable and increase sustainability.
SHORTENING ENGINEERING CYCLES Modern digital engineering and simulation tools in scalable architectures let engineers
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DRIVING EFFICIENT OPERATIONS With greater measures of digital agility, chemical companies can build resilience against future market disruptions, while improving efficiency. Analysts can explore optimization models with real-time reliable data sets and quickly adjust chemical operations to meet new market conditions.
UPSKILLING, RESKILLING, AND EMPOWERING WORKERS Workforce empowerment stands as one of the most powerful drivers of sustainable operations. An empowered, energized workforce can make impressive efficiency gains while keeping operations safe.
BUT HOW CAN YOUR COMPANY IMPLEMENT DIGITIZATION IN PRACTICE? Many chemicals manufacturers wonder where to start their own digital transformation journey and which steps can be quickly taken to catch up with competitors that were early adopters of digital technologies. Six distinct, cross-functional digital initiatives
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7/4/2023 4:59:27 PM
