Integrating data is critical in the life of a chemical company.The foundation of both BI and analytics is great data management. Every company, including one in the chemical industry, requires a single core that monitors and maintains REAL knowledge and insights about customers, suppliers, and solutions. These insights are what supports ‘smart’ decision-making. Working from a common data set and an integrated workplace, plants will run smoothly, make quicker decisions that are better-informed across the entire range of a chemical company’s business processes.To make decisions in real-time, with short decision cycles means business leaders must have continual access to comprehensive data. That translates to enabling business leaders to quickly turn those decisions into action. With an robust ERP system, a holistic view of a business’s operations is available. Add this with business intelligence tools, decision making is faster more efficient.
As we all know, India is the largest provider of generic drugs globally. The Indian pharma industry supplies over half of the global demand for vaccines, one third of the demand for generics in the US and one fourth per cent of all medicines in the UK. The nation enjoys an important position in the global pharma sector. Therefore, the future of Indian pharma industry is quite bright, but there are a few dark clouds on the horizon as well. We need to address the same with the help of improving our cost efficiencies.
While the sector is performing strongly, the researchers warn that it continues to operate below potential. The sector's fundamental is built on the back of small, decentralized production units – as many as 80% of textile production units in India are “small operations” with less than 20 machines. Not only does this significantly limit production, it also leads to a lack of overall coherence in the textile supply chain. Smaller production units are in addition slower to adopt technological enhancements to their operations, which means that the sector continues to suffer from considerable inefficiencies.
Meanwhile, the sector is calling for change in the same vein as a number of other industries in India that could benefit considerably from technological advancement.