Plastics and circularity - closing the plastic loop

How chemists interact with and ultimately use the elements on the periodic table is one of the primary sustainability challenges for the 21st century.

The new product-oriented chemical industry has three categories of products with different key characteristics. The first and most obvious category is commodities, the same products that used to dominate the chemical enterprise. The key for producing these products is their cost. The second and third categories of products may be less familiar. The second category involves molecules with molecular weights of 500 to 700 and with specific social benefits. The most obvious examples are pharmaceuticals. The key to their production is their time to market, i.e., the speed of their discovery and production. The third category includes products where the value is added by a specific microstructure. The key to these products is their function. For example, I don’t care why my shoes shine after I have applied polish; I only care that they do shine. Customers pay a premium for such a function.

Many leading oil & gas and utilities companies are pursuing digital transformation to drive operational excellence. Across exploration, refining, power generation and distribution, petrochemical and other energy sectors, leaders are focused on reducing costs, mitigating risks, maximizing return on assets and streamlining project management.

Are you still trusting multiple spreadsheets and data dumps to try to find out what has happened to your pricing and how that has impacted your profitability across segments, products, and geos? Are your sales reps and product managers spending all of their bandwidth trying to explain what happened instead of deciding what will improve the business? Join Mitch Lee, profit evangelist for Vendavo with more than 20yrs experience in the chemicals industry, for our upcoming webcast: Price Control 101. Mitch will detail 3 best practices that successful chemical companies use every day to effectively control prices and improve margins.