Five years ago, MOL Petrochemical Company (MPC), a petrochemical company originally from Hungary, implemented a quartile development strategy to work for the next five and ten years.
Due to that implementation, the company could develop a complete digitalization and intelligence program, having considerable advances in its investment return (ROI).
That is why MPC is considering to execute the second phase of the quartile performance strategy given the success obtained. The company has already initiated de design of new digitalization elements to integrate in the next five years.
The company’s new strategies are operation rounds, alarm management, and people’s digital habilitation. According to MPC members, those measures can help them optimize their processes.
A ten-year strategy: considerations
At the “Emerson Exchange Virtual Series” event, MOL Petrochemical members shared the lessons learned, perspectives, and the impact of implementing a 10-year development strategy by quartiles in their company.
According to the panelists, there are specific considerations relative to implementing a strategy of that kind. The elements to consider are data, connectivity, analytics, experience, and mobility.
Regarding the data, participants said that information is crucial in a ten-year strategy like the one implemented at MPC. In that sense, panelists recommend relying on a digitalization strategy that can provide real-time visibility and high costs along with the whole operation.
Participants observed that digitalization has to ensure the operative and asset flux of data for all the companies on connectivity. That is why the analytics tools (data model and statistical software) are equally relevant.
Also, experience results in crucial. Panelists highlighted that without schemes that recognize the internal talent or collective experiences, digitalization strategies are insufficient.
Finally, at the event, MPC members said mobility is an essential element for the successful implementation of mid-term digitalization strategies.
Panelists added that if technology can provide specific visuals and tools that enhance labor productivity at any place, the solutions adopted in mobility were the right ones.
Five-year analysis: MPC
After five years of implementing digitalization strategies, MPC’s representatives shared that they presented three times fewer job incidents, 5% fewer operative costs, and 2% more usability in their technological approach.
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In that sense, the company could address its reliability and availability goals, decreasing maintenance costs, increasing predictive work, production, and timely execution in its internal optimization.
That is why MPC stated that it would have energy savings, optimization, availability, and reliability within its plants in the next five years. Representatives added that its future strategic investments would be focused on digital units.