Chemical companies face challenges from numerous areas. These include the changing price of raw materials and geopolitical climates, erratic demand patterns, mass commoditization and customization of products, complex supply chains, the transition to digitalization, competition from new companies, and more regulations and environmental pressure than before. How does a digital core with a true single source of truth help?
Strategic Priorities in a Digital Economy
The digital economy is disruptive. Chemical companies need strategic priorities that drive transformation. SAP powered by Approyo supports a reimagined set of E2E business scenarios to support the strategic priorities of working in a digital environment.
Deliver tangible customer results Connect to and collaborate with your customers, understand and become part of their value chains, and leverage digital technology to deliver innovative services and business outcomes instead of selling products.
Simplify to shrink cycle times - Run simulations and predictive models, enable real-time sense and response, and leverage IT and operation technology integration and the IoT to reduce time to market, streamline operations, maximize asset performance, and minimize rework.
Integrate with ecosystems to unlock superior value - Capitalize upon open innovation, leverage extended manufacturing networks, go beyond the boundaries of your existing value chain, and understand your customer‘s customers’ needs. Adopt the capability to flexibly redesign your network and relationships in line with market dynamics.
Adopt strategic agility in response to market dynamics - Adjust strategy and portfolio dynamically in response to market opportunities and needs, grow rapidly into new markets or segments, and capitalize on mergers, acquisitions, and spin-offs to secure continued growth in a challenging global environment.
Take chemical companies to the next level with intelligent enterprise resource planning (ERP)
Agility for rapid changes
A digital core is an IT architecture that offers stability and long-term reliability for core enterprise processes yet also provides the flexibility to adapt quickly to new opportunities, challenges, and regulations. This solid foundation gives you a single source of truth, which in turn enables flexibility for innovation to accommodate new business models, new regulations, and business events, such as mergers or acquisitions.
Simulation, prediction, and analytics
The ability to respond quickly to changing customer and market needs is more important than ever in today’s highly competitive and dynamic world. To do this, simulation, prediction, and analytical capabilities across core functions such as product development, manufacturing, supply chain management, and sales are critical success factors for intelligent insight. This insight must be at a granular level, so that decision-makers have all the information they need to assess trends, opportunities, and risks – anytime, anywhere.
Real-time data insight
Every chemical company needs the computing capability to carry out complex algorithms with large data sets to support timely, real-time analysis. Everyone in the company as well as in the ecosystem must have access to the data they need, whenever and wherever they need it, so that suppliers can stay up to date with a company’s orders, salespeople can see customer history for credit risk and stock information, and plant people can see production status and provide accurate delivery schedules.
Focus on innovative services and business outcomes
Chemical customers today more than ever demand innovation. Companies are responding with new products, services, and even business-outcome-based models that better meet customer needs. To achieve this, end-to-end (E2E) collaboration and communication across internal and external departments and lines of business is pivotal to success.
The intelligent ERP
Bringing SAP S/4HANA and the SAP Leonardo technologies together as a digital core will result in a more flexible and intelligent enterprise. To achieve next-generation business processes, chemical companies need an intelligent ERP solution that can be continuously enhanced and extended with innovative business services and applications built on emerging technologies, including machine learning, block chain, and the Internet of Things (IoT). Chemical companies that have big innovation appetites or prefer to be early adopters have already begun this journey.
Start your path to the Intelligent Enterprise with Approyo
Approyo provides full SAP service technology with extensive capabilities in consulting, solutions architecture, hosting and managed services, in order to develop the right solution for our customers. Get started today...