Chemical companies and suppliers must determine how to out-structure and out-execute their competition to achieve sustainable growth in a cyclical industry. Accenture can help drive results by developing and executing innovative strategies, improving operations and reducing risk.
Meet increasing industry uncertainty, complexity, and regulatory oversight head on – with software solutions for chemicals. Our technology can help you safely optimize asset performance, drive profitable order fulfillment, and gain greater return on product innovation. Plus, improve performance by continuously innovating and adapting your products, processes, and business models.
The global chemical industry is witnessing several changes in the form of new trends and challenges, such as:
Globalization: Expansion into emerging geographies; restructuring and consolidation are leading to increased pressure on margins, growth, change management, costs and portfolio rationalization.
Fluctuating raw material prices and global supply chain: resulting in high chemical inventory (raw materials and finished goods), ineffective procurement and disintegrated supply chains.
Strict industry regulations: Continued focus on international reporting standards and increasing need for standardization of Environmental Health and Safety (EH&S) in emerging markets while producing at a lower total cost of operations and optimized utilization of assets from new Asian players and entry into growing markets such as China and India.
These challenges require chemical companies to constantly innovate, increase responsiveness and agility, and grow profitably. Overall, they constantly face challenges in managing a global organization while producing at a lower total cost of operations and optimized utilization of assets.
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