In an interview with CIO Look, Elemica emphasizes digital transformation of supply chain processes with more efficient and predictive networks using their leading Digital Supply Network for Process Manufacturers. Led by Rich Katz, the President, the company has achieved many milestones on its way to success.
Below are the highlights of the interview:
What led to the inception of the company?
Elemica was established in 2000 by the world’s largest chemical companies who wanted a neutral place to seamlessly unite supply chains and automate the inter business processes for the products they were buying, selling, moving, and managing the quality between one other.
Describe your company and its cutting-edge solutions which address all the needs of your customers.
Elemica’s Digital Supply Network (DSN) gives clients control over their global supply chains. The network enables process manufacturers and their trading partners to connect efficiently and securely; automate their buy, sell, move transactions while managing product quality; anticipate demand and reduce the risk of uncertainties.
In conjunction with the network, Elemica offers supply chain solutions that enhance specific objectives:
- Elemica Buy: Leverages benefits of digital procure to- pay process automation to build collaborative supplier relationships, so products arrive at the right place at the right time, driving ideal balances of inventory, and service levels.
- Elemica Sell: Increases customer satisfaction by automating the order capture in an omnichannel approach and providing visibility from customer order through invoice/payment.
- Elemica Move: Digitizes the inbound and outbound shipment processes and data with a network of carriers, forwarders, terminal operators, warehouse providers, and logistics service providers for quality and execution data and management.
- Elemica Quality: Aligns supply chain quality objectives with suppliers, customers, and manufacturing to achieve visibility, higher quality, improved traceability, and compliance.
- Elemica See: Provides real-time monitoring and exception-based management to world events and applies them to supply chains to understand others or locations impacted.
How do your services differ from the other companies offerings?
Elemica continually enhances how its network captures customers, buyers, suppliers, and logistics providers data irrespective of the format it was transmitted. The data coming in from disparate sources and different channels are converted into a unique common structure. The Elemica DSN then “cleans” this data by standardizing the format. The network then digitally links the data using proprietary technology on the Elemica cloud-based platform. This final aspect of the data requirement leaves every competitor behind.
This cleansed and now linked data is sent back into our clients’ systems through APIs for logistics, customer service, and procurement. The data also interoperates with third-party data, such as weather or risk information to enrich analytics for more informed predictions, such as what can happen if a port is closed. The data is enabled by machine learning capabilities that ultimately provides holistic decision-making capabilities and enables customer concentricity to maximize the value for all supply chain trading partners.
Unlike our competitors, we also offer the Elemica Quality Management solution. This aligns Total Quality Management (TQM) rigor deployed within the manufacturing process to the extended supply chain. It improves product and process quality with suppliers, customers, and logistics providers for supply chain compliance, track, and trace.
Describe in detail about the work culture and the values that drive your company.
The Elemica work culture drives innovation into its solutions by being obsessively attentive and agile to client and market needs. As a result of culture, our approach means venturing out where others have not, encouraging team members to take measured risk, and instead of punishing mistakes, use them as a learning experience for all members of the team.
What marketing activities do you implement to reach out to your potential customers?
Elemica uses public relations, social media, a dynamic website, and targeted online and offline digital marketing activities to deliver account and role-based engaging content to potential clients. Elemica also participates in webinars, conferences, and industry trade shows.
As per the company, what is the significance of digital transformation in an organization?
To succeed in the process industry, leaders realize that the digital transformation of the supply chain is a journey, not an instantaneous fix. Digital transformation helps companies achieve operational excellence and sets them apart from the competition. A proven Digital Supply Network is part of the digital transformation journey, providing the tools to connect partners, automate the inter-business processes, anticipate and react to risks and markets quicker through better visibility, and enable the business to transform and adopt new business models.
What technologies are you leveraging to make your solutions resourceful?
The Elemica network is based on Cloud technologies to help manufacturers, customers, suppliers, and logistics service providers to connect efficiently and securely. The innovative network automates their buy, sell, and move transactions for their products throughout the supply chain while managing product quality.
The network is based on smart contract rules that run a consistent canonical model that is also completely APIdriven. With this base, rationalization of business processes is modeled to take advantage of machine learning and blockchain quite easily. The result is end-to- end supply chain collaboration based on all parties speaking the same language.
Elemica integrates with the Internet of Things (IoT), capturing data from transactions, devices, sensors, and third-party networks. To derive meaning from the data, the data is cleaned, then digitally linked using proprietary technology on Elemica’s cloud-based platform.
Elemica has implemented blockchain with clients to address specific use cases for the supply chain industry. The blockchain allows third parties to leverage the technology to build, host, and use their blockchain applications, smart contracts, and functions on the blockchain, which benefits all users of the Elemica network.
Being the world’s leading digital supply network, what is your contribution to the digital evolution of the supply chain?
Elemica’s Digital Supply Network for the past 20 years is a core part of the Digital Transformation journey, providing a technology foundation for improving interbusiness processes and expanding supply chain relationships. The Digital Supply Network has created more exceptional opportunities by integrating client’s suppliers, customers, and logistics service providers in more cost-effective and efficient methods over time, depending on the level of business activity.
What are your company’s future aspirations? What strategies are you undertaking to achieve those goals?
Elemica plans to continually add functionality to the network and its supply chain solutions. Nextgeneration technologies like blockchain, machine learning, IoT, and others are being tested, implemented, and integrated into the network and Elemica offerings. The company is working on Networks with other vendors to expand its reach.
Give a detailed description of the featured person’s influence over the company and the industry
Rich Katz has been with Elemica for over 16 years in roles as President, Chief Technology Officer, Senior Vice-President of Product Management, and Vice- President of Research and Development. Rich is responsible for setting the overall direction of Elemica’s Technology Roadmap, Market Positioning, and oversees Corporate and Product Marketing.