Digital Transformation In Chemical Industry Is Here (World Economic Forum, Accenture)

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Knowde Take:

The World Economic Forum and Accenture collaborated on this truly comprehensive paper on the many ways that digital technology will impact, improve and challenge the chemical industry as well as the frequent disconnect between the understanding and acceptance of the benefits of digital vs. the execution of effective digital initiatives.

Digital transformation is emerging as a driver of sweeping change around the world. Connectivity has shown the potential to empower millions of people, while providing businesses with unparalleled opportunities for value creation and capture. The Chemistry and Advanced Materials industry played a leading role in previous industrial revolutions, through its products and innovations, in areas such as pharmaceuticals, plastics and consumer electronics.

Today, the Chemistry and Advanced Materials sector is an important enabler of the Fourth Industrial Revolution. Its contributions allow other sectors to turn ideas and innovations into sophisticated products supporting digitalization. But the industry itself is also being transformed through digitalization. Digitalization helps increase productivity and safety across the industry’s value chain and supports the design of new offerings.

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Chemicals Industry Getting Ready For Next-Generation B2B (Accenture)

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Knowde Take:

This article from 2015 nicely summarizes the reasons why it is imperative for the chemical industry to provide an e-commerce experience that meets the needs of today’s buyers who are shaped by their experiences as consumers.  We’d love to know what customers think about the progress made over the last few years…

In the chemicals industry, electronic business-to-business (B2B) interactions between buyers and sellers typically rely on tools and techniques that have been in place for years.

Those tried-and-true approaches work, and they have brought greater efficiency and speed to transactions between companies and their business customers.

However, things are changing. Soon, the industry’s current approach to B2B—which traditionally focuses on sales transactions— may not be enough. Evolving technology and business practices and the changing expectations of chemical-company customers are quickly raising the bar for the industry’s B2B practices.

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