CPM Industry Case Study

1093 Words5 Pages
The traditional chemical and process manufacturing (CPM) industry is at the cusp of a massive digital transformation. Companies and their industrial processes need to adapt to this rapid change if they are not to be left behind by developments in the industry and by their competitors. The focus during this transformation would be around Customer Engagement, Supplier Relationships and Business networks, Big Data Analytics, Cloud, Mobility, Internet of Things, etc. Customer centricity and engagement would have key emphasis, as companies around the world are capitalizing on the advantages and opportunities provided by the digital economy. CPM industry overview The dynamic nature of the industry has shaped the evolution of vibrant business processes…show more content…
Volatile raw material and energy costs The CPM industry is extremely capital intensive, more than most other industries. Asset utilization and volatility in raw materials and energy costs are crucial to growth of companies. All leading companies in the CPM industry are in the process of optimizing operations to reduce costs. Increasing commoditization The CPM industry is very mature with most chemicals being in the market for decades. Compounding this with low barriers to entry, there’s significant competition and low growth potential. This increase in commoditization is giving rise to a global price war, which is pressurizing companies to reduce costs. Stringent regulations The CPM sector is facing increasing regulation and compliance measures. Everything from health and safety to waste management is surrounded in red tape. These regulations are framed to protect human health and the environment from the risks associated with the workplace and its aftermath. These also impact the trade operations and organizational capabilities of CPM industry players. Rapid…show more content…
They are trying to build closer relationships with customers in an otherwise commoditized market. Customer demands are on the rise, driven by the emergence of new technologies. More and more CPM customers expect a B2B Omni-channel sales experience, which is catching the attention of most CPM companies. Digital transformation advantages All these trends and challenges in the industry forced the CPM companies to revisit their IT strategies with respect to Digitization and Industry 4.0. Below are few advantages of Digital adoption: Improving productivity and reliability Considering the CPM industry is highly asset intensive, asset maintenance and asset availability are key. Using enterprise solutions for performance across functions and workflow systems can help manage outside incidents. Sensors can be used to proactively predict and prevent asset failure. Sensors can also be employed to remotely monitor asset availability across multiple sites. Companies can perform remote diagnostics using sensor data to detect potential problems in equipment. Also, a scalable analytics solution can read near real-time data from the different sensors, remotely access it’s operational and historical data, and provide analytical
Show More
Related

  • Literature Review: Project Management Maturity Model

    2166 Words  | 9 Pages

    According to Hillson (2003) where he used ProMMM for case study, he discovered that ProMMM helps organization in developing project-awareness and staff competency. ProMMM consists of 4 maturity levels which are: naïve, novice, normalized, and natural. Naïve is defined as PM that is unstructured and ineffective

    Read More

  • Case Study On Delhi International Airport

    1752 Words  | 8 Pages

    8.1 DESIGN AND TECHNICAL ASSESSMENT The Delhi International Airport, built in 37 months and designed to serve 34 million passengers a year. This new world-class terminal for India’s second-busiest airport more than doubled Indira Gandhi International Airport’s passenger capacity. Delhi International Airport is a nine-story terminal building which has two piers, 78 gates, six check-in islands with 168 check-in counters and 95 immigration counters. The terminal has 800 flight information display systems

    Read More

More about CPM Industry Case Study

Open Document