If you have been keeping up with this blog series, we are by no means saying that traditional distribution channels are obsolete or redundant. But, we urge you to consider digitalization as an important piece of a petrochemical company’s strategy that should be in line with existing processes and functions.

Digitalization can do more than help companies keep up.

It can enable you to get and stay ahead. While various companies may differ, all are likely to find that the effective use of these technologies will be critical to competitiveness. Today, there is a tremendous amount of data flowing along chemical company value chains. That data holds a considerable value for those that can make use of it. Why do you think Google became so powerful? They are a data powerhouse.

Service providers will benefit from B2B solutions that enable better customer support. That will also allow them to develop excellent customer centric services.
Specialty companies can leverage next generation B2B to customize products and enable the technical sales force to collaborate more closely with customers to shape those products.

Commodity companies can link customer facing processes with supply chain processes to give customers enhanced visibility into orders, provide delivery assurance and shorten lead times. These companies may ultimately take advantage of B2B exchanges to provide these services, which could enable them to not only simplify the buy/sell relationship, but also optimize the supply chain.

Executives who are delaying making bold strategic decisions should remember that in an industry as dynamic as this one, the status quo generally does not last for long.

#DIGITALIZATION IN THE CHEMICAL INDUSTRY

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