Competitively addressing turbulence depends on the ability to view transformation through the lens of six fundamental challenges:
The imperative to resist margin shrinkage, mitigate risks, increase ROI, and boost growth calls for innovative products and services that offer business value and foster close partnerships with customers. By pushing forward the adoption of advanced technologies to drive global R&D, supplier, and customer collaborations and joint ventures, businesses can prevent commoditization.
Evolving production facilities with a balance of high efficiency, global scale, flexibility, and intelligent responsiveness allows supply chains to weigh the synergistic benefits of integrated manufacturing plants or industrial parks against the flexibility of smaller plants. As a result, businesses can leverage new opportunities with disruptive business models, such as making raw materials instead of buying them and producing semi-finished or even finished goods.
Global supply chains must be secure enough to mitigate volatile market conditions, such as global health emergencies, rising prices for raw materials and energy, and other factors that impact economic conditions. Companies can gain this advantage by establishing commercial and logistical transparency to support optimization and global planning of demand, sales, and operations.
Business cannot stay competitive in a complex ecosystem alone. They must also scale and optimize their supply chain globally with business networks, such as the Catena-X Automotive Network. Doing so empowers suppliers, contract and toll manufacturers, joint ventures, and customers to collaborate openly and create new prospects for co-innovating better products and services, improving value chain efficiency, and fueling long-term growth.
A primary objective for any chemical business is ensuring compliance with industry regulations. Yet, B2B customers also favor suppliers that help meet their own environmental, social, and governance (ESG) mandates. Sustainable businesses and innovations provide balance between these two expectations, creating a highly sought-after competitive edge by gearing products and services towards a circular economy.
The industry’s dynamic and fast-changing environment of mergers, acquisitions, and divestitures is creating tremendous complexity and pressure for permanent change and adaptation. Chemical companies need to balance industry-wide globalization and centralization while increasing business agility.
The automotive industry is largely consumer-driven. Enterprise solutions can take the burden off your shoulders, automating the many processes involved in the manufacturing of an automotive equipment.Request for free Demo