We live in turbulent times. Transformational times. But what are the possible implications for the production industries and for process plant reliability engineering?
In 2020, Deloitte (Deloitte Touche Tohmatsu Limited) attempted to address the first part of this question by examining four (4) possible scenarios for the future of Europe’s chemical process industry. The results of their study (refer Figure 1) are relevant for many industries and suggest that “proactive transformation” will be required for a profitable and sustainable future (i.e., Scenario 1).[Read more…]