The chemical industry must adopt Industry 4.0 strategies to meet today’s supply chain challenges.
The chemical industry is essential to the health of the global economy, influencing many other industries including the textile, automobile, and pharmaceutical industries. Incredibly, the chemical industry affects the production of more than 96% of the manufactured goods we use in our daily lives.
Recent events – from the COVID-19 pandemic, to the war in Ukraine, to inflation – have rocked manufacturing industries worldwide. And while we’re not out of the woods yet, global demand for goods (and thus demand for chemicals) seems to be on the rebound. As chemical industries seek to bounce back, a key concern is the vulnerability of supply chains that was made clear in the 2020s.