In today’s world, industries move at a rapid pace, enabled by the advancements of digital and associated technologies. Competition is intensified across all sectors, and companies must be able to respond to changes in the business landscape and constantly innovate to maintain their competitive edge.
This is especially true in the chemical, material, and biotechnology industries, where available technology and regulations are rapidly changing due to scientific discoveries and geopolitical shifts. According to a study by Deloitte, growing public demand for sustainable products is generating significant regulatory pressure. Meanwhile, global events and other disruption risks have emphasized the need for companies to ensure that their supply chains are more agile and flexible than ever before.
Joel Shertok, PhD, Founder and President of Process Industries Consultants, says that today’s economic climate is characterized by ever-changing market conditions, technology, and government regulations. This means businesses need to survive in an environment that is not the same from day to day. With almost 50 years of industry experience, Dr. Shertok saw how these shifts can have a huge impact on businesses – in some cases determining their ultimate survival.
“In the 1950s, the price of oil was steady and in a straight line. In that environment, companies were thriving because they could make projections five years out, knowing how much things would cost,” he explains. “But, today, it’s hard to tell from one day to the other what the business environment is going to be, especially with regional conflicts and political instability in global powers. A company may be doing well today but crash tomorrow if they get hit by a perfect storm of risks.”
Therefore, Dr. Shertok says businesses must be adaptable enough to take their processes and modify them on the fly to adjust to changing market conditions, building resiliency to any shocks that may come their way. This includes looking at where their raw materials come from and making contingency plans in case this crucial supply chain link is disrupted. Aside from knowing where the raw materials are coming from, it’s also important for businesses to ensure that their process is robust enough that different raw materials produce the same results.
“You’d be amazed at how many companies have built their entire businesses on having just one source for raw material. Then, something happens, and they have to switch to another source. As far as the specs are concerned, it’s the same material, but it doesn’t work in the same way, or it works in the winter but not in the summer. Even trace impurities can have a huge effect on how materials or chemicals work. Businesses should get the raw material from at least three different sources while making sure their process is robust enough that it makes the same product each time so that it’s easy to switch to another source in case of disruption,” Dr. Shertok says.
Process Industries Consultants and Dr. Shertok frequently work with companies that are scaling up and establishing their industrial-scale processes. Upon first meeting with a client, Dr. Shertok spends around half an hour introducing himself, as well as getting to know the client. This is followed by a more detailed questionnaire where the client shares their pain points in the scale-up process. After that, Dr. Shertok presents solutions on how to alleviate these pain points, drawing from his extensive experience in the industry. Once this proposal has been finalized, he oversees how these can be effectively integrated into the client’s operations. Aside from product and process development, he is also extremely knowledgeable in safety and environmental compliance in accordance with OSHA and EPA regulations.
“More than ever, organizations need to be resilient and adaptable to survive the quickly shifting tides of the business environment,” Dr. Shertok says. “This will allow them to become more stable, putting them in a position to focus on innovation and properly scaling up their new products or processes – giving them a leg up on the competition and ensuring long-term success.”
