How Chemical Companies Can Achieve Digital Transformation

Despite the goal of most chemical companies to transform their businesses using digital tools, most of their initiatives only achieve limited success within individual business units, if not outright failure. In this report, we survey relevant stakeholders to understand the status of digital transformation in the chemical industry. We reason that cross-functional integrations within chemical companies are needed for transformational digital outcomes and that existing company structures are not designed for such monumental change. Moreover, we propose a new way of restructuring chemical companies using four business units and discuss how the new structure would enable a higher chance for transformational success.