In every walk of human life, presence of chemicals is there right from the food to clothes we wear. The quality of life also depends on the significant breakthrough leading to availability of safe drinking water, medical treatment, greener fuels etc. Therefore, the role of chemical industries is also counted as one of the integrals of economic development. The contribution of this sector is in basic good industries and the allied industries like textile, leather, plastics, food stuffs, beverage, agriculture, etc highly depend on chemicals. Hence, industries in chemicals need to cater its products to various industries as per their requirement for which the necessity is for improve in operational efficiency while minimizing the cost factors. In the competitive environment, it requires initiating measures in:
- Build better infrastructure
- Securing feedstock
- Technology up-gradation
- Strengthening research and development
- Infrastructure to nurture talent
- Bring a change in image of the industry
- Generate chemical inventory, etc.
There are also challenging issues leading to hamper in growth. First issue in this respect is increased price of basic feed stock like basic raw materials. In the manufacturing process, chemical industries depend on natural gas or crude oil; the fluctuation in the price of the commodity affects the growth projection. In spite of this concern, the manufacturing process continues; hence, it requires strengthening the aspect of research and development to bring improvement in the manufacturing process while minimizing the cost.
Another challenging issue is lack of application of information technology. Brand awareness is another issue crucial for marketing perspective. Chemical industry with poor infrastructure will lead to shoot up of the manufacturing price. Again, a chemical industry without adhering to environment norms will draw the attention of concerned authority in government; as a result the industry might be denied the permission for manufacturing.
There is no end to list of challenging issues. To address various issues of chemical industries, Guires facilitates consultancy services. We have experts to focus on the overall strategy employed by industry and after assessing it provides the guidance or suggestive measures to deal with the prevalent issues. Our strategy revolves around:
- Core competence
- Technological competence
- Basic management practices
- Adhering to environmental norms
- Research and development
- Industry and institution collaboration for knowledge sharing
- Reduction of cost in procurement and production
- Brand building
- Strategic marketing alliance, etc.
Thus, with our valuable inputs, chemical industries could focus on their growth and enhance their global competitiveness. We will lay out a strategic roadmap to overcome the challenges swiftly in order to achieve the ambitious target. Consult us for further guidance.