8 Operational and accounting challenges for the chemical industry

CHRIS WILLIAMSON | April 18, 2018

article image
When choosing an enterprise resource planning (ERP) solution, chemical industry companies face some particular challenges related to the way work is done and tracked financially. Yet with the right partner, chemical companies can leverage the extraordinary strengths of an ERP software platform to drive efficiency and profitability. A decade ago, ERP solutions were not as nimble and did not provide the industrial specificity needed to be fully effective. Today’s solutions, however, have the broad functionality and specifics that chemical companies need to be successful. ERP solutions are platforms that integrate the varied components of manufacturing, including operations, finance, human resources, supply chain, sales, and marketing.

Spotlight

AIC - American International Chemical, Inc.

AIC, an ISO certified, Framingham MA based sales and marketing company has been serving the food, pharmaceutical, nutritional, personal care, biotech and industrial markets of North America since 1972. Our philosophy is based on long term partnerships.

OTHER ARTICLES

Petrochemicals in PA: What You Need to Know

Article | February 19, 2020

A bill recently passed by the Pennsylvania General Assembly would subsidize the use of fracked gas to produce petrochemicals. At some point—i.e., at a time chosen by the state Senate—H B 1100 will be sent to Governor Wolf, who has promised a veto despite override threats. Meanwhile, Pennsylvanians are trying to understand the bill and its potential impacts. That hasn't been easy, because as with the petrochemical subsidy bills Pennsylvania enacted in 2012, the General Assembly has not held a single hearing on the legislation. The purpose of this blog is to help fill that gap.

Read More

Energy portfolio restructuring: Charting the future

Article | June 17, 2021

Consumer needs and preferences in the energy industry are evolving. Environmental, social and governance (ESG) concerns are becoming more acute—inspiring action and shifting value towards low-carbon solutions. These trends accelerated in 2020 and for the first time, market capitalization of leading low-carbon solutions companies began to overtake those of oil and gas (O&G) majors. This is despite the majors laying out energy transition strategies, setting low carbon energy targets and generating higher revenues by an order of magnitude.1 In response to this radically changing landscape, energy companies are charting divergent courses for their futures. Some continue to bet on their ability to generate returns from the O&G value chain. They are focusing on growing margins and lowering carbon intensity. Others are supplementing their capabilities with low-carbon energy solutions or exiting hydrocarbons altogether. This blog focuses on the path forward for the energy majors in Europe who are betting big on diversification.

Read More

When chemistry becomes intelligent

Article | March 5, 2020

Nowadays, artificial intelligence (AI) and computer programs have infiltrated almost every corner of our lives; from facial recognition, language translation, image and video production, to self-driving cars and personal care aides. Other applications that might not yet be mainstream knowledge have to do with scientific exploration and research and development. For example, AI has the potential to revolutionize medical practices through augmenting medical diagnosis and have found application in drug discovery. In many places, researchers have also attempted to use AI algorithms to manipulate biology, chemistry, and physics with different setup configurations that can detect DNA modifications caused during epigenetic regulation or gene mutation, choose the most optimal reaction pathways in synthesis, and search for exotic particles using adapted learning networks.

Read More

Optimizing chemical production using data-driven, AI-enabled hybrid modeling

Article | March 13, 2020

Smart use of your plant’s data can take process efficiency to a higher level. Hybrid models driven by artificial intelligence deliver the best results for the least effort. And you don’t need a data science degree to enjoy them. Data is everywhere these days – and the volumes of it are growing exponentially all the time. We’re used to smart uses of it in our everyday lives. Like Amazon and Netflix using our past behavior to tempt us with new products or shows, even making them more appealing by tailoring how they look based on carefully constructed, data-driven profiles of our tastes. Much of that heavy lifting is done by artificial intelligence (AI). In chemical production, process control systems have been collecting data measurements during continuous or batch manufacturing for decades.

Read More

Spotlight

AIC - American International Chemical, Inc.

AIC, an ISO certified, Framingham MA based sales and marketing company has been serving the food, pharmaceutical, nutritional, personal care, biotech and industrial markets of North America since 1972. Our philosophy is based on long term partnerships.

Events