Recent annual reports of several global chemical companies were
reviewed for information on what those chemical companies might be doing to
increase the digitalization attributes of their supply chains. Here is some information found:
Asahi Kasei in partnership with IBM
is developing the use of blockchain technology for tracking information on sold
plastics that is needed for recycling decisions.
AkzoNobel has launched a project to
better integrate its SAP software system with its supply chain.
Arkema is reorganizing its
information technology systems in order to improve its supply chain management.
BASF uses artificial intelligence
to optimize its supply chain and logistics concepts.
Celanese is in the process of
revamping its supply chain process. It
intends to use more intelligent systems for analyzing vast amounts of data leading
to better optimization of its supply chain networks.
Clariant has a “big data” analytics
initiative in various company operations including supply chain. It seeks to incorporate machine learning,
advanced analytics, and demand sensing in its operations.
Covestro is committed to pursuing digitization
along its entire supply chain. It has
set up a Digital Solutions Laboratory.
The company is developing the use of blockchain to preserve confidential
data on products for later use in recycling and reuse decisions.
Evonik is emphasizing digitalization
and is looking for innovative ways to do so.
One goal is to use artificial intelligence applications to raise
efficiency along the supply chain.
Mitsui, a strong supporter of the
Japan’s DX Digitalization Initiative, is adopting IBM’s blockchain technology
in tracking plastic products to consumption and recycling/reuse decisions. (More information on Japan’s DX
Digitalization Initiative can be found by clicking here.)
Sekisui has initiated a study of
their supply chain system in order to increase digitalization.
Sumitomo is improving its supply chain management through digitalization innovations. Sumitomo is a supporter of Japan’s DX Digitization Initiative.
The information provided above suggests that several global chemical companies have decided to increased digitalization of their supply chains. Likely reasons for this might include:
- The COVID pandemic focused the companies on their supply chains and their vulnerabilities and the need to improve the supply chains;
- Newly developed and improved technologies related to digitization, such as in the areas of the internet of things; artificial intelligence (including machine learning); blockchain technology; and robotics processing, provide incentives and technologies for increased digitalization of the supply chains (a Nexocode site discusses artificial intelligence with respect to supply chains – click here – and a Deloitte report discusses blockchain use with respect to supply chains – click here);
- The need for increased digitization to meet increased governmental and societal requirements and expectations related to sustainability, ethical, and environmental goals and the importance of supply chains in those goals; and
- The increased sizes of global chemical companies and the amount of data that is generated related to their operations and how digitalization of that data can lead to much improved decision-making using new data analytics technologies.
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