KUWAIT CITY, May 11: EQUATE Petrochemical Company, a global producer of petrochemicals, sponsored the Gulf Petrochemicals & Chemicals Association (GPCA) Supply Chain Conference for the ninth year in-a-row as part of the company’s commitment to create a platform of knowledge exchange with manufacturing bodies, service providers, academic institutions and other stakeholders to address global challenges.
During the conference, EQUATE’s Board Chairperson Hosnia Hashim and the President & CEO Mohammad Husain discussed the significance of innovation, technology and organizational structures in driving efficiency and sustainability in the petrochemical industry to address global supply chain developments and trends.
During the welcome address at the opening of the Conference, Husain said, “Today’s petrochemical market is volatile, complex and uncertain. Overall collaboration, sustainability, technology and new skill sets are the factors that will influence the way for conducting business in future.
Among these, collaboration is the key for the GCC supply chain to stay competitive and organizations need to explore the possibility of collaborating in each and every area for business, such as strategic, operational, technical and outsourcing of services. Hand in hand, a three-way force consisting of government, manufacturers and service providers needs to be developed and secured to ensure that the total supply chain is ready for the future.”
Husain added, “Whereas technology is concerned, the new operating model should include artificial intelligence which is emerging as the next big technology and the automation of workforce will include employment of robots and adding services of drones and self-driving vehicles within a context of Internet of Things (IoT).”
Husain stressed that these dramatic impacts on business will not reduce the importance of developing new skill sets for the new era of supply chain management.
On her part, Hashim spoke about the role of the supply chain’s organizational structure in driving efficiencies with a key focus on interfaces and links with other functions, such as procurement, information technology and others.
The Company also supports knowledge sharing through the partnership with academic and research- institutions such as Kuwait University (KU), aiming for progress, innovation, sustainability and training of future professionals who will positively lead the industry. As part of the partnership, a student at the KU College of Petroleum & Engineering and a professor were invited to attend the conference for the opportunity to network with various delegates.
Last year, EQUATE launched a partnership for innovation with KU, which included an Innovation Multiple Intelligence Survey led by Dr Intesar Al-Mudahka, Assistant Professor at KU’s College of Sciences, measuring and assessing EQUATE’s innovation efforts.
The EQUATE Innovation Program aims to further collaborate with KU through the Company’s Innovation Centers. Earlier in 2017, EQUATE and KU signed a comprehensive MoU for collaboration in innovation, its applications and other fields.
Championing environmental sustainability in supply chain, EQUATE has also signed an agreement with Maersk Line to decrease CO2 emissions in ocean transportation. The agreement, which is the first of its kind in Kuwait, is based on EQUATE’s and Maersk Line’s Sustainability Strategies that include the shared vision to protect and safeguard the environment by decreasing CO2 emissions.
The EQUATE Group is a global producer of petrochemicals that create a better world. The Group combines EQUATE Petrochemical Company (EQUATE), its subsidiaries and The Kuwait Olefins Company (TKOC). The EQUATE Group is the world’s second largest producer of Ethylene Glycol (EG) with industrial complexes in Kuwait, North America and Europe that produce Ethylene, EG, Polyethylene (PE) and Polyethylene Terephthalate (PET). The products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa.
As a leading global enterprise, the EQUATE Group strongly pursues sustainability principles and best practices wherever it operates through partnerships with various stakeholders including employees and customers as well as societies as a whole in fields that includes human development, environment, education, health and public awareness. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). The Group provides reliable services and solutions that enables global customers and stakeholders to grow and attain the success they seek by being “Partners in Success.” www.equate.com
With EQUATE as one of its founding members, The Gulf Petrochemicals and Chemicals Association (GPCA) represents the downstream hydrocarbon industry in the Arabian Gulf. Established in 2006, the association voices the common interests of more than 240 member companies from the chemical and allied industries, accounting for over 95% of chemical output in the Gulf region. The industry makes up the second largest manufacturing sector in the region, producing up to $108 billion worth of products a year. www.gpca.org.ae