Chemical manufacturer focus on technology in the post-coronavirus era

In the world after the new crown virus, how should chemical manufacturer carry out business? In the face of future challenges, where is sustainable development and green chemistry appropriate?

Products produced by chemical enterprises are usually part of the upstream supply chain of other industries, such as food, medical, construction, transportation, electronics and clothing. It helps us use many consumer products at home, such as cleaning products. The types of business involved are also very diverse - for example, industrial intermediates, products, polymers, dyes and pharmaceuticals.

Like many industries, the coronavirus has hit the chemical manufacturing industry heavily, not only because of the plant closure, but also the measures to limit the activities of people and consumers. World trade fell sharply and oil prices fell, which wiped out the advantages of the US chemical exports over other countries.

The coronavirus has been particularly severe in the supply chain of chemical manufacturing industry. China, the world's second largest economy, has the brunt, and has hit the global supply chain, which relies on China's imports of chemicals. For example, in the pharmaceutical industry, many active drug ingredients and medicines are purchased from China.

Even before the coronavirus attack, the global supply chain had been hit by the Sino US trade war, which forced American companies to restructure their supply chain to reduce their dependence on China.

Chemical manufacturing relies on a long-term distributed supply chain. The new crown virus pandemic has created a real bottleneck in the supply of chemicals from China, which soon brings trouble to supply chains around the world.

Removing China from the supply chain means that chemical manufacturers must quickly adjust their supply chain to find alternative suppliers - which can cause problems from a global health perspective in terms of pharmaceuticals in the pharmaceutical industry.

In the post coronavirus era, investment in industry 4.0 technology could be rewarded

The external impact of coronavirus on chemical manufacturers can bring a unique impetus and may drive you to innovate. Usually, a recession will force companies to innovate new business models. Perhaps it is time to focus on digital transformation and technology in the form of industry 4.0 to improve the status of the supply chain.

After the infection of coronavirus, your enterprise needs to be competitive and achieve greater achievements with less resources. If you haven't taken that path, you need to think deeply about what your business can get from digital transformation.

For example, digital transformation can support the reliability and efficiency of the supply chain. It encourages systems that are easy to integrate, operate and audit, improve availability, production, efficiency, and quality, thereby saving you money.

You may need to look at systems that plan, forecast, and process inventory, as well as financial information related to the supply chain. You will need a platform that can help make influential decisions, making complex processes (such as expanding to new markets) less complex. With systems that control data, you can leverage emerging technologies such as artificial intelligence, automation, and machine learning,

As a chemical manufacturer, your business may need to focus on post coronavirus era technologies that can help you:

Demand planning - the capability can predict the needs of chemicals so that you can deliver them to customers in an effective way. You can use analysis to check information such as sales data and customer orders to make informed decisions about inventory and production levels.

Real time decision - with data support from the Internet of things (IOT) that connects devices, you can analyze it in combination with historical and real-time sensor data. Combining these data with machine learning algorithm, prediction models and patterns can be created, which can accurately point out possible fault points.

Purchasing - when it comes to supply, you will want the right technology that can help you analyze what you buy, from who, what price, and what quantity you buy. As costs soar, you need to meet your needs while maximizing the return on your money.

Production - technology can help you plan, develop, manufacture, and deliver goods or services effectively. The right system can help you understand the production process in depth, and make informed business decisions

Inventory management - chemical manufacturers can record the products they hold in real time in detail, including information used in sales, procurement, warehousing and production, so as to achieve comprehensive quality control.

Logistics - the right system can help you effectively transport products and help you pack, transport, distribute and deliver products through a variety of channels.