How Chemical Companies Compete in the Digital Economy

 

The very nature of the digital economy puts mounting pressure on chemical companies to operate more effectively and efficiently, while fulfilling customer demands for immediacy and product innovation. Trying to meet these challenges with manually intensive processes and outdated technology is difficult, especially when external trading partners and global operations are involved. Slow, error-prone manual tasks and inputs limit performance standards, constrain operations and impede growth while potentially harming customer satisfaction.

To meet these challenges, chemical companies must extend business processes across trading partners, from suppliers to customers. This serves as a critical expansion that marks a departure from the traditional focus solely on manufacturing and distribution.

This paper highlights key areas where chemical companies need to embrace intelligent technologies to maximize efficiency, profitability and innovation.