In an interview with Insights Success, the CEO of Elemica, Rich Katz, shares key insights into the organiztion’s journey and how its specialized solutions and services are continually growing to meet the dynamic needs of an evolving global market. Unparalleled in today’s technology market, Insights Success is proud to recognize Elemica as one of the industry disrupters redefining innovation in 2019 and leading the way into the digital future.
Below are the highlights between Insights Success and Rich:
Give a brief overview of the Elemica, its solutions, and services?
Elemica is the leading Digital Supply Network (DSN) for process manufacturers allowing them to automate their inter-business transactions, anticipate demand, and accelerate their supply chain digital transformation. Elemica has supply chain solutions for the products clients are buying, selling, moving, complying, and seeing throughout their supply chains. Elemica is a “networked” supply chain system, where each client can interact with others on the network to share information and execute transactions.
Elemica has expanded globally with clients equally split between North America and Europe, and the rest of the world. The company addresses petrochemicals, oil and gas companies, specialty chemicals, plastics, rubber and tire, agri-science, paints and coatings, pharmaceuticals, and CPG. Today clients process over $500B in commerce annually on the network.
What is the dynamic factor that makes Elemica different from its competitors?
Elemica drives innovation into its solutions by being obsessively attentive and agile to client needs and market trends. As a result of culture, Elemica offers a next-generation digital supply network that enables process manufacturing enterprises and their trading partners to anticipate demand and reduce the risk of uncertainties. The DSN helps clients better conduct business with each other digitally while bringing visibility to all trading partners, so customer service levels are improved, profitability enhanced, and operational efficiencies are increased.
Describe the experiences, achievements, or lessons that have shaped the journey of the Elemica.
In 2000, over twenty chemical companies got together to significantly improve the efficiency and robustness of their global supply chains. Out of that initial strategy, Elemica was formed.
Elemica quickly realized that manufacturers couldn’t expect clients to adopt a single process for doing business collectively. Elemica reacted accordingly to address this issue. A new Elemica network was born to give greater flexibility, visibility, and ease of adoption to clients.
The new network captures data from customers, buyers, suppliers, and logistics providers irrespective of the format it is transmitted, including IoT data from sensors anywhere in the supply chain. Data from disparate sources and different channels are converted into a unique structure that is common. This drives a specific domain language that is completely reusable across all the different processes. This results in a domain driven global representation of business signals. A true layer of communication is then made available across multiple networks and industries.
Where does Elemica see itself in the long run and/or what are its future goals?
Elemica continually adds functionality to the network and its supply chain solutions. Next-generation technologies like blockchain, machine learning, IoT, supply chain quality, and others are being tested, implemented, and integrated into the network and Elemica offerings. Elemica is working on a Network of Networks project with other vendors to integrate its reach across other industries and markets.
How do you diversify innovative product/solutions so that it will benefit your customers?
Elemica’s patented DSN allows clients to measurably reduce their working capital, and therefore improve their overall financial performance. These supply chains maximize the value of extended business processes with technologies that enable collaboration across trading partners. The Elemica Digital Supply Network integrates and synchronizes product, demand, and supply networks to optimize joint value between companies.
Elemica has continually enhanced its network and offers unique functionality than competitors. Elemica Quality Management solution aligns Total Quality Management (TQM) rigor deployed within the manufacturing process to the extended supply chain. It is thereby improving product and process quality with suppliers, customers, and logistics providers for supply chain compliance, track, and trace.
About the Leader
Rich Katz has been with Elemica for over 16 years in roles as CEO, 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. Rich was given an Honorable Mention in the Atlanta Business Chronicle’s People on the Move (November 2018) and was named a Provider Pros to Know by Supply and Demand Chain Executive Magazine.
“Maximum value is only possible with the full integration of all relevant business processes between partners – everything from aligning the enterprise with the market, industry, and its regions. With Elemica, we all speak one language and pursue one goal: economic gain.” – Heinz- Gunter Lux, Evonik
“In today’s world, supply chains are about collaboration and the digital age – both of which relate to Elemica. It’s all about helping partners understand your business’ processes, and Elemica helps simplify difficult systems at a high level.” – Folkert Tjebbes, Univar
“Elemica makes it easier for me and my company to do business. Connecting with suppliers is a cinch.” – Thomas Ratliff, AkzoNobel