Why Innovation Operations are Critical

The future of the CPI depends on sound innovation. The guidance provided here will help organizations to shape an effective innovation strategy that can give them a competitive edge You would be hard-pressed to find a company in the chemical process industries (CPI) that isn’t proud of its history of innovation. And for good reason, as responsible chemical innovation has done wonders for agriculture, home goods and many other industrial categories — not to mention countless everyday products (Figure 1). Yet for all of the good work being done, too many chemical companies are missing promising opportunities for future success when it comes to their critical innovation practices. FIGURE 1. The continued development of innovative chemical products and processes has been paramount to the success of CPI companies[/caption] It’s not that the existing innovation processes are broken — but they’re no longer sufficient. From bioplastics to alternative fuels, the chemicals industry is moving steadily into uncharted waters. Without the proper innovation strategies and infrastructure in place, traditional CPI companies will increasingly struggle to keep pace with promising (and well-funded) upstarts. Although it may be tempting to…