Future of Operational Excellence is Digital with Stephen Reynolds of AVEVA - Ep. 121

08/29/23 • 42 min

The Chemical Show: Where Chemical Means Business

Have you ever wondered how the future of operational excellence in the chemical industry will be shaped by digital transformation? In this episode of The Chemical Show, Victoria Meyer welcomes guest Stephen Reynolds, Industry Principal for the Chemical Segment at AVEVA, a global leader in industrial software, driving digital transformation and sustainability. Stephen shares his insights into how technology is revolutionizing operational excellence and empowering employees to drive the business forward.

In this episode, Stephen, brings a wealth of knowledge and experience in the chemical industry. With 25 years of working as a chemical engineer, Stephen has witnessed the evolution of operational excellence firsthand. Victoria and Stephen discuss the changing landscape of the industry and how companies are becoming leaner, relying on advancements in technology to empower their employees. Stephen delves into the concept of the Connected Worker and how augmented reality and virtual reality tools are transforming how operators on the shop floor access and utilize information. This episode is a must-listen for professionals looking to understand the future of operational excellence in the digital age.

Learn more about the following topics this week:

Using operational excellence to achieve a higher level of performance
How the chemical and plastics industry's approach to operations and operational excellence has evolved
Bridging the gap of the information through Connected Worker
What is a digital twin and how do you harness its power?
The value in digital transformation for small to mid-sized chemical companies.
Digital assets aiding in sustainability and ESG transparency and accountability

Join us in this insightful episode as we explore the future of operational excellence in the chemical industry. Stephen shares his expertise on how companies are leveraging technology to build a more sustainable and efficient future. From the power of the digital twin concept to the implementation of advanced analytics and AI tools, Stephen provides valuable insights into how technology is revolutionizing the chemical industry.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

Learn more about the following topics this week:

Using operational excellence to achieve a higher level of performance
How the chemical and plastics industry's approach to operations and operational excellence has evolved
Bridging the gap of the information through Connected Worker
What is a digital twin and how do you harness its power?
The value in digital transformation for small to mid-sized chemical companies.
Digital assets aiding in sustainability and ESG transparency and accountability

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

Previous Episode

The Importance of Commercial Discipline: Unlocking Business Resilience in Challenging Times - Ep 120

Exercising good commercial discipline is critical to business resilience and navigating the challenges of today's economy.

Over the next 3 episodes, host Victoria Meyer will be diving deep into approaches that chemical companies are taking to combat the market weakness we've seen in the first half of this year (for more on this, check out Episode 118 where I review 2Q23 earnings reports). Victoria’s topic this week: Commercial Discipline

Victoria dives into the concept of commercial discipline and how it can help companies optimize resources, control costs, and maintain strong market positions. Unpacking various approaches that companies are taking, touches on the following strategies for commercial discipline:

Cost optimization as a key component of commercial discipline
Controlling the right costs and understanding value through cost clarity
Cashflow management
Business efficiency and optimization through automating and streamlining processes
Prioritizing & optimizing products and solutions

Exploring the concept of control and clarity as essential components of commercial discipline, Victoria emphasizes the need to focus on the right costs and gain a deep understanding of actual costs rather than relying on assumptions. Discussing the role of cash flow management in improving financial stability, Victoria explores strategies for optimizing business efficiency and supply chains. Additionally, Victoria highlights the significance of prioritizing and optimizing products to drive growth and profitability. Don't miss this episode packed with actionable strategies to enhance your company's commercial discipline.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

Next Episode

Leveraging Customer Centricity for Business Resilience in Chemical Markets - Ep. 122

Ep 122 Show Notes

Customer Centricity is more than customer satisfaction, it’s about centering on the “right” customers to create Strategic Value. Host Victoria Meyer delves into the concept of customer centricity and its role in creating business resilience. Through insights from leading chemical companies' earnings reports and experts, Victoria unpacks the importance of customer centricity and its impact on strategic value creation.

This is part 2 of host Victoria Meyer’s 3 part series on approaches chemical companies are taking to combat the market weakness in the first half of this year (for more on this, check out Episode 118 of The Chemical Show where Victoria reviews 2Q23 earnings reports and Episode 120 which covers Commercial Discipline.

Learn more about the following:

Defining customer centricity in the chemical industry
Putting the right customers at the center of your business
Assessing customer lifetime value
Why strategic alignment matters
Business segmentation to create a higher level customer experience
Employee buy-in

Victoria explores the definition and differentiation of customer centricity from customer service, highlighting that not all customers are created equal. Emphasizing the need to focus on the right customers to create strategic value, Victoria shares key elements of customer centricity, including customer lifetime value, strategic alignment, segmentation, and employee buy-in.

Gain a deeper understanding of the journey towards customer centricity and how it can enhance business resilience in challenging market conditions.

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