To unlock value and accelerate business outcomes, petrochemical manufacturing giant LyondellBasell engaged Aligned Automation to construct and execute a digital procurement strategy that could unite complex data and processes across functions. From early success to scaling initiatives, the solution offers five lessons for organizations looking for a strategy to enable and sustain change.

The imperative for futureproofing

The petrochemical industry is indisputably important to the global economy and its presence is ubiquitous in modern life. Beyond fueling cars and packaging goods, chemicals and polymers produce some ofthe most diverse end-products of any industry, including fuel, cosmetics,textiles, automotive parts and more. While a diversity of products spells out good news for long-term growth trajectories, it also provides insight into thevast complexity of the industry.

Complexity is only increasing as markets shift, with major disruptions to demand and customer expectations (Figure1). Add on the deep impact suffered from the economic slowdown in 2020,which created additional strains from lower utilization, material shortages andhits on margin, and it comes as no surprise that petrochemical companies are looking for new ways to drive value and find competitive advantage. Futureproofing against these changes and adapting to complexity enables companies to build momentum and ensure resilience instead of falling behind.

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Unlocking value beyond the traditional

LyondellBasell executive Allen Yu describes his experience in the petrochemical industry, what the company aspired to do through transformation and the solution Aligned Automation built.