ABSTRACT
Process industries represent a key driver of global value creation. Industry segments such as chemicals, pharmaceuticals, food and beverages, and consumer goods comprise more than 50% of industrial production in the United States and Europe. Their products guarantee nutrition and health for the individual consumer and form the basis of virtually all products in our daily lives. However, a recent issue of Supply Chain Management Review clearly showed that companies in process industries are experiencing dramatic challenges in fulfilling their business targets and downward pressure on margins due to the unprecedented complexity and variability of today’s global economy (see Table 1.1). The need for visibility and optimization across all elements of a supply chain has never been greater.
