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It is no secret that the energy industry is going through a difficult time. Investments are getting smaller, or sometimes even stopped. People are laid off and the number of orders is in free fall for some companies.
But even though these are difficult times, history has taught us one thing. Things always get better. Because when this crisis is over, and growth and demand are back to normal, we have to be ready for it.
A crisis might not seem the best time to look for innovative solutions, but it is the case for our line of work. Because now that CAPEX investments have been halted, a unique opportunity arises. This is the first time that our entire supply chain can think about solutions that normally take too much time to roll out. How about completely reinventing quality management, with a digital-first approach?
Imagine rolling out a new system in which quality management, digital inspections and compliance by design are key elements? And all that while the pressure to continue production does not play the main role all the time? We could now innovate the entire supply chain together.
We have never experienced such a situation as the one we are in before. At least not in the present era with major technological advantages in society. Today, we have scalable platforms, lightning-fast internet, blockchain technology and devices that are interconnected 24/7. These technologies ensure that supply chain management and quality management can be improved, and that the steel industry can also innovate to keep up with the ever-growing demand for supplies.
Most companies have projects that they have been trying to do work on for years, but that was always postponed. More often this was time-related, rather than money-related. That means that now is an ideal time to start innovative projects, to speed up the efficiency of all our business operations.
Because then, new technologies can ensure that key factors are not slowed down, that transparency is improved and that the recovery of the industry is accelerated. Because what if we can finally create paperless offices, eliminating human error? What if we can make data-driven decisions, see real time availability of materials and compare the specifications of a certain product with the product requirements of the end user?
Then together we can build a future in which the entire steel supply chain flourishes like never before.
SteelTrace is a platform that believes in the future of the steel industry. In fact, SteelTrace wants to be part of that future, and help shape it. Because with our use of new technologies, old patterns can be broken. SteelTrace therefore offers an innovative solution to help all companies within the supply chain and the owner companies move forward. Because why should we only take small steps, when we can also make leaps?
SteelTrace therefore offers an innovative solution to advance all links within the entire supply chain.