How can you ensure that your chemical process is competitive in the global market?

2 Process design

Once you have a clear idea of your market goals, you need to design your chemical process to achieve them. You need to select the most suitable raw materials, reactions, separations, and unit operations that can produce your desired product or service with high quality, efficiency, and safety. You also need to consider the environmental, social, and regulatory impacts of your chemical process, and minimize the waste, emissions, and risks associated with it. You should use various tools and methods, such as process simulation, optimization, and control, to evaluate and improve your process design.

3 Cost analysis

Another crucial factor that affects your competitiveness is the cost of your chemical process. You need to estimate and control the capital and operating costs of your process, and compare them with the expected revenues and profits. You need to account for the costs of raw materials, utilities, labor, maintenance, depreciation, taxes, and financing, as well as the uncertainties and contingencies that may arise. You should also consider the lifecycle costs of your process, including the costs of research and development, scale-up, commissioning, operation, and decommissioning. You should use various tools and methods, such as economic analysis, sensitivity analysis, and breakeven analysis, to assess and enhance your cost performance.

4 Quality analysis

Another important factor that affects your competitiveness is the quality of your product or service. You need to ensure that your product or service meets or exceeds the specifications and expectations of your customers, as well as the standards and regulations of your industry. You need to monitor and control the quality of your raw materials, intermediates, and final products, and identify and eliminate the sources of variation and defects. You should also implement quality management systems, such as total quality management, six sigma, and lean manufacturing, to improve your quality performance.

5 Innovation analysis

Another vital factor that affects your competitiveness is the innovation of your chemical process. You need to constantly look for new ways to improve your product or service, or create new products or services that can satisfy the changing needs and preferences of your customers. You need to foster a culture of innovation in your organization, and encourage creativity, experimentation, and learning. You should also collaborate with other stakeholders, such as suppliers, customers, researchers, and regulators, to exchange ideas, insights, and feedback. You should use various tools and methods, such as brainstorming, prototyping, and testing, to generate and evaluate your innovations.

6 Benchmarking analysis

Finally, another essential factor that affects your competitiveness is the benchmarking of your chemical process. You need to compare your process performance with the best practices and standards in your industry, and identify the gaps and areas for improvement. You need to collect and analyze relevant data and metrics, such as productivity, efficiency, quality, cost, and customer satisfaction, and use them to measure and improve your process performance. You should also learn from the successes and failures of your competitors and other industries, and adopt or adapt the best practices and strategies that can enhance your competitiveness.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?