Growth & Innovation Potential
By integrating service and support automation directly into the fabric of machine solutions, new asset management platform technologies can help OEMs…
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Today, chemical manufacturers are on the verge of being disrupted by digital and Industrial Internet of Things (IIoT) technologies. Incumbents are quickly realizing that in order to address the next wave of opportunity, they will have to shift from a historic “operations-driven” focus to more agile service-driven businesses. But how much traction are we really achieving?
In recent discussions with chemical company executives, we’ve been trying to better understand their views on the pitfalls and successes of utilizing digital and IIoT technologies. One thing has been very clear–almost everyone believes digital and IIoT will drive the next wave of growth and innovation in the chemicals sector. But our conversations have also highlighted a wide range of challenges that leadership teams are struggling with to drive new growth strategies centered around digital and IIoT.
It is still early on, but the mounting pressure and potential disruption to companies that manufacture chemicals could be quite large. In order to achieve success, companies need to start with customer problems and work with them to co-create solutions.
Read part two of this blog post for additional success factors for digital innovation in the chemicals industry.
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