Digital transformation in the chemical industry: White paper
01 December 2018
A white paper from Siemens examines the investment required to support the UK chemical industry’s digital transformation towards a highly connected and data-rich operating environment.
With much commentary concerning the impact and potential of Industry 4.0 on the sector, the requirement to compile a sound business case for chemical manufacturers to take incremental steps towards transformative industrial digital technologies is under constant review.
Collating the views from more than 30 senior industry executives representing a range of heavy and speciality chemical manufacturers, the white paper called ‘Chemical Industry 4.0 - a Formula for Investment,’ outlines five key building blocks the industry believes can deliver a reliable return on investment in support of a digitalisation strategy.
The building blocks range from the need to identify gaps so that equipment, plant and logistics can be controlled and automated through a digital interface, to establishing standard data controls.
The research also highlights specific applications where investment could provide a significant ROI in operational areas such as plant monitoring, predictive maintenance, customised production and materials handling.
Finally, data flow to the upstream supply chain and establishing digital connections to customers, were cited as critical to gain the best value from digital investment decisions.
Ian Elsby, head of chemicals, Siemens UK, comments: “Chemical Industry 4.0 – a Formula for Investment, is an important piece of research as it clearly articulates where the UK chemical industry should look to focus when it comes to the most effective way to invest in its digital transformation.
“While there is general acceptance as to the value a highly connected, data-rich digital future can deliver, the chemical industry is now asking how we can make Industry 4.0 actually happen from a practical and operational standpoint, with one smart step at a time. The right investment decisions are key to this.
“The ‘formula for investment’ set out in the white paper offers a solid foundation for key decision makers within chemical manufacturers who have to create the business case to underpin its digital adoption strategy.”
To obtain a copy of ‘Chemical Industry 4.0 – a Formula for Investment’, please visit: https://www.siemens.com/uk/en/home/markets/chemical-industry/chemical-industry-4-0-a-formula-for-investment-white-paper.html?stc=wwpd213002