Operations strategy in process industries

Abstract

Fast changes in technology, competition, and most importantly customer expectations are creating an increasingly uncertain atmosphere for business. People tend to get attracted towards short-term gains putting aside the advantages of having long-term strategies. The manufacturing sector is being victimized by this phenomenon. While it has been recognized that manufacturing holds the key to development, less emphasis has been given to it. Enhancement of manufacturing practices in the process industry has always been a lesser priority. While many solutions can be developed to counter the challenges in the process industry, it needs comprehensive and concentrated efforts in designing its strategy to meet competition. This paper discusses the characteristics of process industry and tries to focus on developing some specific strategic options, which can be useful in confronting competition.