Process Operations: A Roadmap from the Present to a Hyper-connected Future

HENNING, GABRIELA

Cambridge, MA

Simposio; MIT : 2040 VISIONS OF PROCESS SYSTEMS ENGINEERING; 2017

Massachusetts Institute of Technology

Process Operations face nowadays numerous challenges. They have to be carried out in globalized and competitive economies that exhibit: (i) Turbulent and volatile markets, enlarged demand uncertainty; (ii) Sharp fluctuations in fuel pricing; (iii) Improved product time-to-market; (iv) Shorter product life cycles; (v) Increasing levels of product varieties; (vi) Various types of outsourcing; as well as (vii) Tough customer service requirements: Accurate deliveries, short lead-times, high levels of efficiency, flexibility, etc. Meanwhile, there is a new technological wave in Information & Communication Technology (ICT), which encompasses the following trends: (i) Proliferation of mobile devices; (ii) Pervasive connectivity; (iii) Affordable smart sensorsAccelerated computer power; (iv) Internet of Things (IoT), Industrial Internet of Things (IIoT); (v) Big data; (vi) Cloud computing. This presentation discusses the dangers and opportunities that Process Operations will face in the next two decades. Emphasis on Supply Chain Management and Scheduling is made. Finally, a road map to a hyper-connected future is presented. The following two questions are attempted to be answered: How to master the digital innovation challenge? How to take advantage of a hyper-connected environment?