Germany: Digitalization Covestro Boost Digital Transformation
Covestro is pursuing a comprehensive strategic program were the materials manufacturer is anchoring digital technologies and operating procedures on central levels in production, supply chain, research and development.
Leverkusen/Germany — Its focus in these efforts is on the specific benefits to customers, the company announced. At the same time, all company employees are to benefit from the opportunities of digitization as well. Digitization will become a fixed element of corporate strategy and linked to defined financial targets: for example, a new form of online commerce is to contribute up to one billion in sales in two years.
The company is pooling its activities under the comprehensive Digital@Covestro program. The global Optimized System Integration 2020 project targets digital operating processes in production. Its goal is to make the design, operations and maintenance of global production plants more efficient and transparent. This is to be achieved within the next three years by means of data integration, coupled with the new thought processes and operating procedures associated with it. For example, predictive maintenance is to be carried out in the plants using mobile devices that deliver real-time data.
Furthermore, a new digital commerce chemistry platform is to be launched in early 2018. Business customers can then purchase standard products online from Covestro’s range of polymers at current market prices. Materials valued at up to one billion euros are to be sold via the platform by the end of 2019. Designed on the basis of customer needs, it is currently in the testing phase. There are also plans to market certified basic products and services from other suppliers via the new platform.
Communicating with Customers
The chemical company also plans to fully integrate digital communication with business customers. They are to receive more effective after-sales support, from the first product idea to ongoing service, above and beyond all the digital channels. First results will be presented in 2018.
Cutting Costs with Algorithms
A new business model called “digital technical services” will be supporting efficient production processes for customers. Together with customers in the foam manufacturing industry, the company has been gaining experience in analyzing data to optimize production conditions. Algorithms are supporting the expansion of these services. This will allow customers to cut production costs.