#Textile chemistry

2020-11-05

Indorama Ventures awarded "2020 DX CEO" by IDC Thailand

Indorama Ventures Public Company Limited (IVL), a global chemical producer, was recognized by IDC Thailand with Mr. Aloke Lohia, Group CEO, acknowledged as the ‘2020 DX CEO’ for Thailand in this year's IDC Digital Transformation Awards (DX Awards). IDC's DX Awards recognizes outstanding organizations that have made critical breakthroughs in digital transformation, changing its business and markets across the Asia Pacific region.

IVL is currently implementing its digital transformation project utilizing S/4 Hana, an integrated SAP ERP across all functions. The full implementation of the ERP will help drive organization-wide optimization, improve overall efficiency and make IVL's businesses even more agile. The project is also part of the company’s Olympus project, a cost transformation initiative which is expected to deliver savings of approximately $350 million by 2023. The project includes deployment of a global business solution throughout finance, operations, procurement, supply chain, sales and HR functions across IVL’s 120 operating sites in 33 countries across the world.

Mr. Aloke Lohia, Group CEO at Indorama Ventures said, "I am so proud of my team and honored to be named ‘2020 DX CEO’ by IDC Thailand. As IVL has mostly grown inorganically in recent years, we have a strategy to enhance the optimization and integration of our business operations through several transformation projects, with the single ERP system at the core. That is why we got into the SAP system after due deliberation. We chose a very good partner, 'Accenture', for the implementation of our digital transformation project. Even though we are caught in COVID-19 restrictions, we continued the implementation virtually with frequent updates among our team across all 33 countries and 120 sites. We believe that our digital transformation will better serve our customers, clients and employees. As we all know, data is the new oil and we would be able to leverage this to enhance our excellence and bring forward an improvement for our shareholders.

Mr. Sudev Bangah, Managing Director at IDC ASEAN said, “Mr. Lohia started an initiative to drive intrinsic value through digital transformation at IVL by exploring industry 4.0 capabilities with Machine Learning & Mathematical Optimization as well as identifying 250+ digital value creation opportunities across 120 sites. He exhibits confidence and a strong vision with the ability to strategically execute his vision into actions that assisted in transforming IVL to become a more successful organization.

“Mr. Lohia is leading IVL on the right path by driving business resilient qualities within the organization such as agility, flexibility and being customer centric. He ensures that the right strategies, skills, and passion are in place to make IVL fit for the future,” Sudev added.

IDC DX Awards were assessed by organizations driving business model transformation and business ecosystem which leverages from digital technologies such as Cloud, Mobile, Big Data / Analytics, Social and IoT across the Asia Pacific region. This 2020, IDC award has received more than 1,200 nominations across participating countries such as Singapore, Indonesia, Philippines, Malaysia, Thailand, Hong Kong, Taiwan, China, South Korea, India, Australia, and New Zealand.

“Production is a product”

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“We need to move away from the price trap and return to a value-driven mindset.”

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ITMA 2027 gains strong momentum

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