Although the chemicals manufacturing sector has basked in positive growth and margins, as they say, change is the only constant; hence there is no reason to be certain that slump will not hit the industry shortly.
Fremont, CA: Other things might seem uncertain, but one thing is for sure that a key component of this evolution is technology. Almost all of the chemical manufacturers are making conscious efforts to continuously better and upgrade their operations by embracing different technological trends that have come up onto the scene of late. Furthermore, they are investing in digital transformation initiatives that involve a combination of people, technology, and business processes. Driving all of these initiatives within the four walls of the enterprise is an enterprise resource planning (ERP) software. Here are the top three chemical manufacturing tech trends being witnessed in 2020.
Artificial Intelligence (AI) technology has time and again proven to be the Gamechanger, with its various benefits like cost reduction and increased accuracy, among others, to the chemical manufacturing businesses. Additionally, systems equipped with such technology are intelligent in their part, because they can read, learn, and process Big Data, and therefore analyze, forecast, enhance the business processes, and allow more efficient use of the resources. Also, these ERP for chemicals can even be integrated with voice-search applications, which can take the ERP experience to a different level altogether.
Although most of the businesses operating on Cloud use the private, public, or hybrid model which compiles to their business needs, 2020 has been about the integrated Cloud or interconnected Cloud. It primarily refers to the strategy where a business leverages two or more Cloud mentioned above computing platforms to carry out various tasks. Adding to that, the advent of multi-cloud, which is one of the biggest enterprise technology buzzwords in 2020, is most likely improving security and data accessibility.
Cybersecurity & data privacy
Data has proved to be the new oil in 2020, with the emergence as the biggest asset a business can have. The threat to data security will be high because of more data, more users, and more connected devices. Henceforth, the businesses will incline over having adequate measures in place to protect their data. Chemical manufacturing businesses are not isolated from this threat, and they also have an increased focus on data security.
To conclude, the manufacturers are advised to tap into these tech trends early, or else they must keep themselves ready to face the repercussions and take a back seat in the competition.
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