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Globalization, regulation, the shape of the macroeconomic landscape, and the high cost of labor and raw materials are just a few of the major challenges that companies from the chemical products industry have to face. Chemical product manufacturing is also an energy-intensive process, making it difficult for companies in this industry to "go green" and remain compliant with environmental regulations. To stay competitive, companies in the chemical products industry must find innovative ways to reduce their dependence on energy resources, and conduct ongoing research and development (R&D) to improve existing products and bring new products to market ahead of the competition.
Some of the challenges that companies in the chemical products industry face involve
managing a large number of raw materials and intermediate products;
managing formulas in a way that helps formulators access and handle the data required to produce new products, or modify existing ones;
complying with local, regional, and international industry, business, and environmental regulations;
designing new products, processes, and manufacturing systems in order to improve product development;
developing green chemistry and engineering practices; and
using technology to develop more efficient sources of energy.
Organizations in the chemical products industry can benefit from the use of specialized software solutions, including enterprise resource planning (ERP) and product lifecycle management (PLM) solutions. ERP systems can help these organizations process raw materials efficiently and report compliance to regulatory agencies—although industry-specific functionality is required for the ERP system to function effectively. Chemical products companies can also take advantage of product lifecycle management (PLM) systems, which can help with product development and the rollout of new designs.
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Core PLM for Process Industries
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