ILLUMINATION

Sourcing/Logistic/Marketing
Serving the Industry with Integrity
ISSUE XXXI
VOLUME 31
25.02.2017
DIGITAL STRATEGIES FOR THE CHEMICAL INDUSTRY

Comparing to other Industries, now in Chemical Industry there are remarkable success, delivering better value to Stakeholders especially shareholders. In between 2000 and 2016 the Industry delivered a 9.1% annual increase in total return to shareholders (TRS) commodity and specialty chemical companies posted TRS gains (10.9% and 11.5% respectively) Digital technologies are affording new business opportunities that hitherto did not exist.

Digital technology opens the way for new products and services. At its most basic, the rise of digital technologies creates demand for associated chemicals, such as ultra-pure chemicals used in electronics production, battery chemicals, and ABS or PLA filaments,1 which are used in 3-D printing. Successful transformations start by examining how digital is changing customer needs, the value chain and competitive offers. Companies should assess their own digital initiatives (current and planned) and identify their capability gaps, their readiness for change, and the execution risks.

Digital strategies, such as online sales, can serve as an important extension of traditional sales channels, especially for commoditized business wherein products are brought and sold on well established, mutually agreed technical specifications (that specify purity, impurity profile etc.)

The sophisticated methodical engines to mine data and unearth insights can expand business and improve margins. Data analysis can be used to more precisely target marketing initiatives, analyze role of market influencers, adjust prices on a dynamic basis taking into account Plant utilization, storage levels, real time customer demand etc. Digital strategy can embrace the ability to get quick quotes, monitor equipment remotely, manage inventories at customers and offer preventive maintenance over the web. In business, enhanced customer satisfaction is the Key to sustainable development of goals. Introducing and expanding digital sales channels, increasing automation and digitizing end-to-end processes in commercial operations will help chemical companies to increase their growth and profitability.

To maintain competitiveness, businesses must ensure that their organization is ready to meet new digital challenges to respond to customer needs, and where possible, define the future of digital engagement

FOUNDER'S DAY CELEBRATION & TEAM DINNER HELD ON 1ST FEBRUARY 2017 AT 'PRAKASH HOUSE" , GORWA , VADODARA
AWARD DISTRIBUTION – 1 ST RUNNER-UP - AHMEDABAD TEAM & 2 ND RUNNER-UP - VADODARA TEAN
EXCELLENCY AWARD IN PROPER IMPLEMENTATION OF SYSTEM OPERATION GIVEN TO MR. BHAVIN DESAI
MARKET UPDATES - CHEMICALS

The pharmaceutical industry has asked the Government to bring in more clarity in terms of Tax structure and provide incentives on Research & Development(R & D) as part of its budget wishlist.

Specialty Chemicals constitute a significant part of the Indian Chemical Industry and find use across a wide multitude of end use segments. The growth for specialty chemicals is driven by both domestic consumption and exports. Specialty chemicals finding application across consumer, industrial and infrastructure segments are driven by the overall growth of the Indian Economy

The digital transformation of the chemical industry offers exciting new potential to visionary companies. Companies can use their data to create safer, smarter, and more efficient processes. And that will allow them to move forward in a responsible manner that’s good for the bottom line

The chemical industry can play a major role in making India a global manufacturing hub. Realising this potential, the Government has already included the chemical industry amongst the key sectors under its ‘Make in India’ initiative. The outlook for the Indian chemical industry is positive over the long term, considering government announcing a number of measures to improve competitiveness in the chemical sector.

ONGC Petro Additions (OPAL), has commissioned its mega petrochemical complex at Dahej, India and started production at some of the units, the company has announced. The multi-billion dollar project was expected to start production in 2014 but suffered numerous setbacks and cost escalations. OPAL is currently operating the polypropylene (PP) unit at 50% of capacity but plans to ramp up production in about four months to its design 340,000 metric tons/year capacity

EXHIBITION :
Alkali Manufacturers Association of India (AMAI) is organizing an International Conference & Exhibition at Vadodara on 7th & 8th March, 2017 aimed at catalyzing development of Vibrant Chloro chemicals Industry.

Management Tips

ADevelop a Growth Mindset.....

We spend a lot of time and energy at work trying not to fail. However, most people describe their failures as an important part of learning and growing. Adapt a growth mind-set and accept that failure is part of the process of Skill Development. People with a growth mind-set fell smart when they’re learning, not just when they’re succeeding. Don’t limit yourself to do things that you know you can do- - you won’t grow that way. Instead, try things that are above your ability and set high goals that you aren’t sure you can reach. You might surprise yourself and succeed, and if you don’t, you will learn something new.

TAX YOUR BRAIN - PRIZE WINNING PUZZLES
1) It flies whole day and night but never goes anywhere

2) Finger is to hand as Leaf is to _____

3) The word which comes most similar to 'Trustworthy'

4) Which English word retains the same pronunciation even if we take away 4 words from it.

5) I don't have mouth, I need air, I am not alive and no lungs but grow water kills me,. what am I ?

6) It runs for ever but very old, it never moves, no lungs or throat but still a mighty roaring call. What is it?

7) What gets bigger if we take something out of it ?

8) It always goes down only and never goes up.

9) It goes up and down but not moving

10) It always flies without wings

(Answers to be given by email to : secretary@prakashchemicals.com)

Winners of the Puzzle competition of December 2017 : Ms. Anusha Mishra
Answer to the Puzzles of December Edition
Puzzle No.1) 123-45-67+89 = 100, 12+3+4+5-6-7+89 = 100, 1+2+3-4+5+6+78+9 = 100
Puzzle No.2) Ans : 29
Puzzle No.3) LIBYA
Puzzle No.4) Ans : Tomorrow,
Puzzle No.5) Ans : Drink - T (Tea), Vegetable - P (Pea), Tool - X (Axe) Part of Body - I (Eye), Insect - B (Bee), Question - Y (Why)
Puzzle No.6) Ans: RAILS, MOTTO
Head Office
Prakash Chemicals Agencies Pvt. Ltd.
Prakash House --39/40 Krishna Industrial Estate, Opp. BIDC Gorwa, Gorwa Road,
Vadodara - 390 016, Gujarat, India
Ph: +91-265-3926000 Fax: -91-265-3926122
Branch Offices
MUMBAI
:Mr. Chetan Solanki - (M) +91 9998034403, E-mail: chetan@prakashchemicals.com
AHMEDABAD
:Mr. Dhaval Desai - (M) +91 9825013436, E-mail: dhavaldesai@prakashchemicals.com
SURAT
:Mr.Manoj Patil - (M) +91 8511126719, E-mail: manoj@prakashchemicals.com