WEBVTT NOTE This file was generated by Descript 00:00:01.170 --> 00:00:05.460 Speaker 24: Welcome to The Chemical Show, the podcast where Chemical means business. 00:00:05.910 --> 00:00:09.690 I'm your host, Victoria Meyer, bringing you stories and insights 00:00:09.690 --> 00:00:13.590 from leaders driving innovation and growth across the chemical industry. 00:00:14.550 --> 00:00:18.840 Each week we explore key trends, real world challenges, and the 00:00:18.840 --> 00:00:20.670 strategies that make an impact. 00:00:20.880 --> 00:00:21.720 Let's get started. 00:00:24.237 --> 00:00:27.357 Victoria: Welcome back to The Chemical Show Where Leaders Talk Business. 00:00:27.657 --> 00:00:33.177 Today's episode is focusing on insights and highlights 00:00:33.207 --> 00:00:35.157 from The Chemical Summit 2025. 00:00:35.187 --> 00:00:38.727 So just two weeks ago on September 30th and October 1st, 00:00:38.727 --> 00:00:40.317 chemical leaders gathered in hu. 00:00:40.332 --> 00:00:44.412 Chemical leaders gathered in Houston for the Chemical Summit. 00:00:44.892 --> 00:00:48.042 Two powerful days of panels and speakers. 00:00:48.372 --> 00:00:54.912 Lots of audience engagement, networking, connection building, and building insights 00:00:54.912 --> 00:00:59.802 that these leaders are taking back to their companies to influence strategy, 00:01:00.282 --> 00:01:03.432 culture, and direction over the next year. 00:01:03.492 --> 00:01:07.722 Today I am sharing some of the key themes plus some clips from speakers 00:01:07.782 --> 00:01:09.012 from this year's Chemical Summit. 00:01:09.102 --> 00:01:15.552 And I'm just gonna say there was so much energy and engagement and enthusiasm 00:01:15.552 --> 00:01:21.132 in the room for these topics and more, and, and the buzz is palpable because 00:01:21.132 --> 00:01:24.492 one of the things that happens at the Chemical Summit, it's not just what 00:01:25.007 --> 00:01:29.237 People are saying on stage, it's also what the audience is talking about 00:01:29.237 --> 00:01:32.927 and they are talking and engaging with each other over all of these big 00:01:32.927 --> 00:01:36.527 topics, topics that you're probably working on in your company as well. 00:01:36.527 --> 00:01:41.537 So I'm bringing you some insights today and, um, hope that it's valuable to you. 00:01:41.537 --> 00:01:43.150 So to sum it all up, 00:01:45.620 --> 00:01:46.550 if you take one. 00:01:47.535 --> 00:01:52.065 Statement away from what the overall theme and the reflection of the 00:01:52.065 --> 00:01:57.555 Chemical Summit is, is that people and culture are the backbone of 00:01:57.555 --> 00:01:59.895 transformation in an AI enabled world. 00:02:01.950 --> 00:02:02.640 That's it. 00:02:03.060 --> 00:02:05.100 Um, is that new and novel? 00:02:05.130 --> 00:02:08.790 No, because people and culture have always been the backbone of 00:02:08.790 --> 00:02:12.780 transformation, but it's the way in which we're manifesting it today. 00:02:12.810 --> 00:02:15.810 So we covered a lot of topics at the Chemical Summit. 00:02:15.840 --> 00:02:20.670 Everything from business transformation to startups, supply 00:02:20.700 --> 00:02:25.770 chain, talent, pricing psychology and customer value, the business of 00:02:25.770 --> 00:02:29.400 sustainability, digitization, and AI. 00:02:29.790 --> 00:02:31.800 Global economics and geopolitics. 00:02:31.800 --> 00:02:36.960 So a lot two days action packed with all the topics that a leader needs to 00:02:36.960 --> 00:02:41.430 know as they are going about influencing strategy, influencing business 00:02:41.430 --> 00:02:42.930 direction, and leading their companies. 00:02:43.770 --> 00:02:45.990 Um, the underpinning theme. 00:02:46.500 --> 00:02:51.990 Throughout every conversation virtually was about AI, and the reality 00:02:51.990 --> 00:02:54.090 is AI is influencing everything. 00:02:54.420 --> 00:02:55.770 You guys aren't surprised by that. 00:02:55.770 --> 00:02:59.970 You kind of maybe have to be living under a rock if you are not aware about 00:02:59.970 --> 00:03:06.000 how AI influenced our world is on a personal level and on a business level. 00:03:07.215 --> 00:03:13.005 At the same time, people are still grappling, companies are still grappling 00:03:13.005 --> 00:03:15.285 with what does that mean for me? 00:03:15.645 --> 00:03:16.815 How do I do this? 00:03:16.995 --> 00:03:18.765 How do I make this work for my company? 00:03:19.125 --> 00:03:21.915 Um, and we're gonna talk about that more. 00:03:21.915 --> 00:03:25.875 So, um, recognizing we are in an AI enabled world. 00:03:26.445 --> 00:03:30.095 We are going through some tough times across much of the industry. 00:03:30.570 --> 00:03:32.070 Good times in other places. 00:03:32.320 --> 00:03:35.710 , It's definitely a mix, but we're, um, we're gonna be talking about that today. 00:03:35.810 --> 00:03:40.490 Three big themes, um, that I'm gonna bucket these insights in. 00:03:40.520 --> 00:03:42.080 The first is people and culture. 00:03:42.895 --> 00:03:49.585 The second is business agility and alignment, and the third theme is 00:03:49.585 --> 00:03:52.495 technology as a transformation engine. 00:03:53.335 --> 00:03:54.895 So I'm gonna start with people. 00:03:56.440 --> 00:04:01.090 So much conversation about the importance of people and culture. 00:04:01.150 --> 00:04:03.580 Your people, your business, your stakeholders. 00:04:03.940 --> 00:04:05.190 They all want to matter. 00:04:05.500 --> 00:04:06.360 They want to matter. 00:04:06.360 --> 00:04:07.540 They want to succeed. 00:04:07.800 --> 00:04:11.530 They want to contribute to a strong business and a culture 00:04:11.530 --> 00:04:13.840 that drives success and longevity. 00:04:13.920 --> 00:04:17.520 The first keynote speaker of day one of The Chemical Summit following 00:04:17.520 --> 00:04:22.710 me was Todd Nelmark, who is the CEO of Verdant Specialty Solutions. 00:04:22.830 --> 00:04:27.120 And Todd talked about transformation and the transformation journey 00:04:27.300 --> 00:04:30.750 that he has seen in companies throughout his career and that he 00:04:30.750 --> 00:04:32.370 is currently leading Verdant on. 00:04:32.700 --> 00:04:36.750 Um, and this whole piece that he really stressed was 00:04:37.080 --> 00:04:39.390 transformation is about alignment. 00:04:39.635 --> 00:04:40.595 And it's about people. 00:04:40.925 --> 00:04:44.825 Um, and one of the things he specifically said is, purpose is why we exist. 00:04:45.185 --> 00:04:48.515 Strategy is where we play and how we win. 00:04:48.545 --> 00:04:51.725 And culture is how we behave when no one's. 00:04:52.605 --> 00:04:56.445 So I'm gonna introduce a clip from Todd here, um, so that you 00:04:56.445 --> 00:04:58.635 can hear, uh, from him directly. 00:04:58.875 --> 00:05:04.005 The other piece around this that Todd really emphasized, um, as part of the pay 00:05:04.005 --> 00:05:08.325 playbook for transformation is getting the right people on the bus, getting people 00:05:08.325 --> 00:05:14.480 in the right seats on the bus, and being able to act quickly when change is needed. 00:05:14.625 --> 00:05:15.165 So. 00:05:15.660 --> 00:05:19.770 Getting the right culture, getting the right people in the right places, um, 00:05:19.830 --> 00:05:25.770 to use that as a way of driving your business and your business transformation. 00:05:26.952 --> 00:05:29.112 Todd Nelmark: If there's one lesson I learned from the lab bench, the 00:05:29.112 --> 00:05:35.112 control room, and the boardroom, it's this purpose, strategy, and culture 00:05:35.502 --> 00:05:37.512 are the same decision made three ways. 00:05:38.232 --> 00:05:40.722 They only move at pace when the right people are in the right seats 00:05:40.722 --> 00:05:42.042 and they communicate effectively. 00:05:42.726 --> 00:05:45.546 When you know why you exist, you'll know where to play. 00:05:46.386 --> 00:05:51.196 When you know where to play, you'll know how to behave, behave that way long enough 00:05:52.126 --> 00:05:54.076 and performance tells the story for you. 00:05:54.726 --> 00:05:57.096 The music of a healthy company isn't an accident. 00:05:57.784 --> 00:06:02.944 It's a choice you make every day on the plant floor in the r and d lab, 00:06:03.694 --> 00:06:09.124 in the boardroom, where the customer who needs you to be a little better, a 00:06:09.124 --> 00:06:11.914 little faster, a little more dependable. 00:06:12.334 --> 00:06:14.134 Make these choices with purpose. 00:06:14.224 --> 00:06:17.224 Anchor them in strategy and protect them with culture. 00:06:17.974 --> 00:06:20.884 Power them with people and you'll build something that lasts 00:06:21.395 --> 00:06:25.175 Victoria: Milan Taylor from Mercer brought data. 00:06:25.205 --> 00:06:28.985 He brought a lot of data in about people and culture and 00:06:28.985 --> 00:06:31.295 talent in the chemical industry. 00:06:31.485 --> 00:06:33.795 Mercer is a premier. 00:06:33.915 --> 00:06:37.305 People, strategy, risk management, consulting, organization. 00:06:37.555 --> 00:06:39.955 They work with companies all across the world. 00:06:40.175 --> 00:06:45.065 Milan specifically focused his insights around, um, surveys that 00:06:45.065 --> 00:06:48.155 they've done in extracting data around the chemical industry and 00:06:48.155 --> 00:06:49.385 chemical industry participants. 00:06:49.385 --> 00:06:51.695 So, super interesting facts. 00:06:51.725 --> 00:06:53.045 Here's a few factoid for you. 00:06:53.405 --> 00:06:53.920 Um, first of all. 00:06:54.545 --> 00:06:59.015 Chemical employees are have high levels of engagement and job satisfaction. 00:06:59.015 --> 00:07:06.245 Like 71% of chemical employees say that they are very satisfied or satisfied or 00:07:06.245 --> 00:07:08.645 very satisfied and engaged in their jobs. 00:07:09.125 --> 00:07:09.485 Great. 00:07:09.875 --> 00:07:10.325 Awesome. 00:07:10.535 --> 00:07:12.035 Super wonderful to hear. 00:07:12.425 --> 00:07:18.815 However, over 60% say that they are worried about their health, 00:07:18.875 --> 00:07:21.335 both physical and mental. 00:07:21.455 --> 00:07:25.265 So you could think, is this a function of workplace safety? 00:07:25.265 --> 00:07:26.585 I think we've gone a long way with that. 00:07:26.585 --> 00:07:30.095 So I, it's the dialogue was actually, maybe it's a little bit less than that. 00:07:30.125 --> 00:07:33.405 It's a bit about, um, the aging workforce, which on. 00:07:33.950 --> 00:07:35.930 General basis across the industry. 00:07:35.930 --> 00:07:39.770 We've got an aging workforce, um, but also just the change in the stress. 00:07:39.770 --> 00:07:43.550 And there's a lot of stuff going with on with everybody's companies right now. 00:07:43.580 --> 00:07:44.450 You guys know that. 00:07:44.450 --> 00:07:51.410 So 60% worried about their health, 50% actively looking for a new job. 00:07:51.410 --> 00:07:52.880 So you're like, hang tight. 00:07:53.240 --> 00:07:57.620 71% said that they are highly satisfied with their jobs and 00:07:57.620 --> 00:07:59.720 yet 50% are actively looking. 00:08:00.770 --> 00:08:01.190 I don't know. 00:08:01.430 --> 00:08:02.390 I, you know what? 00:08:02.480 --> 00:08:04.070 Maybe somebody can respond. 00:08:04.070 --> 00:08:07.550 'cause we all, we had some speculation about why that was. 00:08:07.850 --> 00:08:11.600 Um, is it a demographic shift? 00:08:11.600 --> 00:08:15.020 Is the fact that the industry is going through such a major transformation? 00:08:15.560 --> 00:08:16.250 I don't know. 00:08:16.590 --> 00:08:20.640 But it's also around this fact of we need to continue to 00:08:20.790 --> 00:08:22.710 upskill our workforce, right? 00:08:22.920 --> 00:08:27.720 The work that we do every day is changing whether you're in the office, whether 00:08:27.720 --> 00:08:31.470 you're working in manufacturing, whether you're out in logistics, helping move 00:08:31.470 --> 00:08:33.390 product around the work is changing. 00:08:33.750 --> 00:08:36.450 One of the things that's changing work, and again, we talked about AI 00:08:36.450 --> 00:08:42.330 being an underpinning theme throughout the conference, is the need to both 00:08:42.390 --> 00:08:44.730 upskill and communicate while doing so. 00:08:44.790 --> 00:08:47.100 And this was an interesting factoid. 00:08:47.100 --> 00:08:50.160 So you know, again, people are a bit uncertain, right? 00:08:50.160 --> 00:08:55.125 They're a little stressed out, um, about Their roles, while they're very satisfied, 00:08:55.125 --> 00:08:56.265 they're also a little stressed out. 00:08:56.565 --> 00:09:00.615 Um, and something like one third of employees that were on this Mercer 00:09:00.615 --> 00:09:06.135 survey reported that no one in their organization has spoken to them 00:09:06.165 --> 00:09:08.635 about the impact of AI on their job. 00:09:10.275 --> 00:09:10.905 Surprising. 00:09:11.565 --> 00:09:13.215 Again, a lot of dialogue. 00:09:13.245 --> 00:09:14.085 Why would that be? 00:09:14.085 --> 00:09:16.065 Well, maybe because we haven't figured it all out. 00:09:16.065 --> 00:09:18.885 We're still in this experimentation phase of ai. 00:09:19.125 --> 00:09:20.085 Yes. 00:09:20.265 --> 00:09:24.975 But if you have one takeaway, go talk to your team members about how are you 00:09:24.975 --> 00:09:27.285 using AI, what does it mean for your job? 00:09:27.555 --> 00:09:30.375 Um, and I think the collective conversation was that. 00:09:30.695 --> 00:09:32.465 AI is not taking away jobs. 00:09:32.645 --> 00:09:34.415 It is changing the way we work. 00:09:34.445 --> 00:09:36.755 It's enhancing the way we work. 00:09:37.145 --> 00:09:40.925 Maybe we're working on different things because we're using AI to do other things. 00:09:41.205 --> 00:09:45.215 , But people are still critical in our industry in the roles 00:09:45.215 --> 00:09:46.835 that we have to your culture. 00:09:46.955 --> 00:09:48.815 So that's, that's another tidbit. 00:09:49.115 --> 00:09:52.715 Milan Taylor: So I think that adoption curve of what technology looks 00:09:52.715 --> 00:09:55.025 like as you transform is critical. 00:09:55.415 --> 00:09:59.075 But if we go back and a third of employees have not heard from leaders, 00:09:59.135 --> 00:10:02.675 from anybody in their organization about what this does, speaks to that 00:10:02.675 --> 00:10:06.305 level of anxiety and that, uh, challenge 00:10:06.359 --> 00:10:11.669 Two in three employees tell us that they trust, they trust all of you, 00:10:12.719 --> 00:10:18.479 that if their job goes because of AI, you will find them another one. 00:10:20.789 --> 00:10:29.339 Now, I'm not so sure that in the current economic climate you will do that, 00:10:29.399 --> 00:10:34.349 and I have no data to evidence that, but I suspect the compelling call of 00:10:34.349 --> 00:10:40.409 improving the profit line is going to be the ascendant factor in that decision. 00:10:40.409 --> 00:10:45.044 But two and three of your employees trust you that you will re-skill 00:10:45.044 --> 00:10:47.819 them or find them another job. 00:10:48.752 --> 00:10:52.052 31% of employees, we've talked a bit about this, are reluctant to try 00:10:52.052 --> 00:10:54.362 any new technology in the workplace. 00:10:54.902 --> 00:10:57.662 Uh, and I think that's something you're gonna have to really work with 00:10:57.662 --> 00:11:02.042 your, uh, chief technology officers and your HR leaders to get over. 00:11:03.212 --> 00:11:06.812 So I think the next frontier as you bring all this together is 00:11:06.812 --> 00:11:11.162 trying to figure out what does AI actually mean in a work environment? 00:11:11.192 --> 00:11:13.262 What does it mean for your employees? 00:11:13.472 --> 00:11:16.232 How do you redesign work? 00:11:16.862 --> 00:11:20.432 Because I think at the end of the day, putting in AI into your 00:11:20.432 --> 00:11:23.942 organizations is not about technology. 00:11:24.872 --> 00:11:26.312 It's about trust. 00:11:28.532 --> 00:11:31.952 You can implement technology pretty well in the industry. 00:11:32.642 --> 00:11:35.732 This is all about what does the future workforce look like. 00:11:36.407 --> 00:11:40.187 And you need, I think, to think about, uh, how you develop 00:11:40.247 --> 00:11:41.687 your organizational structure. 00:11:42.354 --> 00:11:45.354 Victoria: Finally, in this people and culture space, we had a panel on 00:11:45.354 --> 00:11:49.524 talent that included people from across the industry representing different 00:11:49.524 --> 00:11:53.994 levels and different participants in the industry, manufacturing and 00:11:53.994 --> 00:11:57.534 people working on the shop floor, executive leadership, et cetera. 00:11:57.924 --> 00:12:01.374 Um, and one of the things that we really talked about that stood out 00:12:01.434 --> 00:12:05.724 to me in particular and that stood out to others is the importance of 00:12:05.724 --> 00:12:07.669 being deliberate with your culture. 00:12:08.364 --> 00:12:08.724 Right. 00:12:09.024 --> 00:12:15.534 So culture is gonna happen, but being very deliberate in your culture is critical. 00:12:15.534 --> 00:12:19.944 And in fact, we talked a little bit about this in the context of M&A and we've got 00:12:19.944 --> 00:12:21.474 a lot of changes in the industry, right? 00:12:21.474 --> 00:12:26.394 Companies buying and selling people, moving companies, maybe there's 00:12:26.394 --> 00:12:28.194 some m and a work in combinations. 00:12:28.554 --> 00:12:33.504 Um, bringing the culture conversation earlier is critical. 00:12:33.834 --> 00:12:37.014 Um, and being very specific about. 00:12:37.764 --> 00:12:40.314 What your culture is and naming your culture. 00:12:40.314 --> 00:12:45.354 So The Chemical Show way, the Olin culture, um, Kelly Soudelier from 00:12:45.414 --> 00:12:48.294 Olin was one of our executives that were on, was on the panel. 00:12:48.294 --> 00:12:50.874 the Verdant culture, your company's culture. 00:12:51.264 --> 00:12:53.994 Point to what it is, who you are. 00:12:53.994 --> 00:12:55.284 It's part of your identity. 00:12:55.524 --> 00:12:56.454 What is your culture? 00:12:56.484 --> 00:13:01.614 I think if we look across, um, not just the chemical industry, other industries, 00:13:01.974 --> 00:13:06.474 every company has a culture, some of whom you can point to and you're like, oh yeah. 00:13:07.149 --> 00:13:07.779 I see that. 00:13:07.809 --> 00:13:11.319 I see that all wrapped up in how you approach things, how you talk about 00:13:11.319 --> 00:13:16.659 things, how you do business, what's your company culture, what is the 00:13:16.659 --> 00:13:23.559 culture that you want to be able to succeed and thrive as we go through 00:13:23.559 --> 00:13:25.449 these industry transformations. 00:13:25.759 --> 00:13:30.949 Culture is everyone's responsibility and people is everyone's responsibility. 00:13:30.949 --> 00:13:37.489 So we need to kind of embrace that vernacular because clearly as we 00:13:37.519 --> 00:13:43.579 continue to go into this next decade of chemical industry, we're going 00:13:43.579 --> 00:13:44.989 through a transformation right now. 00:13:45.229 --> 00:13:45.619 Right? 00:13:45.679 --> 00:13:49.069 Arguably the longest down cycle we've seen in decades. 00:13:50.074 --> 00:13:54.364 Cultural shifts are happening, business transformation is happening, 00:13:54.424 --> 00:13:58.624 and getting people to embrace it and recognize it is critical. 00:14:02.904 --> 00:14:06.774 Theme number two that came through of those two days of the chemical summit. 00:14:07.434 --> 00:14:11.304 Business agility, alignment, and collaboration. 00:14:11.364 --> 00:14:11.784 Right? 00:14:12.054 --> 00:14:18.144 So I've talked about this recently about where we are as an industry, um, 00:14:18.144 --> 00:14:24.414 and what is critical to success here in Q4 as we go into 2026 and beyond, 00:14:24.774 --> 00:14:27.024 and it's around strategic discipline, 00:14:28.209 --> 00:14:31.179 Aligned processes and fundamentally collaboration. 00:14:31.179 --> 00:14:35.379 So I'm, I'm grouping in some comments from three different panels. 00:14:35.409 --> 00:14:39.459 Um, one was the supply chain panel and just how we're harnessing 00:14:39.459 --> 00:14:43.239 supply chain resilience to drive business in the future. 00:14:43.269 --> 00:14:43.719 And. 00:14:44.634 --> 00:14:45.374 Abdul Salam. 00:14:45.474 --> 00:14:48.534 Hagar from Clariant was one of our panelists. 00:14:48.924 --> 00:14:49.824 Brilliant guy. 00:14:49.914 --> 00:14:52.644 So we talked about just the importance of supply chain. 00:14:52.884 --> 00:14:57.954 Companies Started to understand that supply chain is not just about execution. 00:14:58.434 --> 00:15:01.524 Supply chain needs to be integrated from the get go. 00:15:02.094 --> 00:15:04.944 Your business and your long-term strategic planning. 00:15:05.094 --> 00:15:05.424 Right. 00:15:05.424 --> 00:15:10.674 So again, this gets to not just execution, but also alignment and collaboration. 00:15:11.034 --> 00:15:15.474 Um, we also talked about the fact so much of supply chain is 00:15:15.474 --> 00:15:18.234 influenced by technology, right? 00:15:18.354 --> 00:15:22.524 And the technology and digital tools that are available today for 00:15:22.524 --> 00:15:27.594 visibility, for planning, for integration across partners are not optional. 00:15:28.134 --> 00:15:29.184 They're necessary. 00:15:29.394 --> 00:15:30.264 They're necessary. 00:15:30.264 --> 00:15:32.454 They're a standard state of business. 00:15:32.454 --> 00:15:34.194 This provides alignment. 00:15:34.614 --> 00:15:40.104 It's around getting strategic discipline and ensuring business agility. 00:15:40.164 --> 00:15:43.794 Speaker 12: I think what is becoming really important is, you 00:15:43.794 --> 00:15:46.944 know, I think you usually really focus on the customer, right? 00:15:46.974 --> 00:15:51.264 We want to deliver our goods on time, and we want to have the right stockpiles 00:15:51.834 --> 00:15:55.614 for our customers so we can also execute our production on time and deliver. 00:15:56.094 --> 00:15:58.584 What becomes more and more important is that we actually 00:15:58.584 --> 00:15:59.934 also look backward, right? 00:15:59.934 --> 00:16:04.434 That we, from an integrated perspective, involve our procurement departments, 00:16:04.434 --> 00:16:09.264 involve our logistics departments, and make sure that we really 00:16:09.264 --> 00:16:13.074 monitor, you know, first of all, the developments in the market, right? 00:16:13.074 --> 00:16:16.284 Especially now with, you know, not just geopolitically, but 00:16:16.284 --> 00:16:18.324 also, um, regarding tariffs. 00:16:18.804 --> 00:16:22.884 But, um, really start monitoring and holding also our, you know, 00:16:22.884 --> 00:16:24.954 our suppliers accountable, right? 00:16:25.464 --> 00:16:30.984 Um, I think this is becoming more and more, uh, at the, at the, or becoming 00:16:30.984 --> 00:16:34.404 more and more at the forefront, and digitization actually helps a lot there. 00:16:34.794 --> 00:16:39.894 So, um, instead of, you know, your classic communication patterns that you have. 00:16:40.719 --> 00:16:45.429 Um, there are so many technologies out there, some more advanced than others to 00:16:45.519 --> 00:16:47.529 integrate with your suppliers directly, 00:16:47.769 --> 00:16:48.129 Victoria: Right. 00:16:48.579 --> 00:16:53.289 Um, when we talked about the business case for sustainability, you know, we've 00:16:53.289 --> 00:16:57.969 seen, you guys have seen, I've seen a lot of announcements of these big 00:16:58.029 --> 00:17:01.149 projects that are getting delayed and yet. 00:17:01.479 --> 00:17:03.729 Are people still working on sustainability? 00:17:03.759 --> 00:17:04.209 Oh, yeah. 00:17:04.419 --> 00:17:07.029 And we talked a lot about that and ensuring that there's 00:17:07.029 --> 00:17:08.829 an ROI for sustainability. 00:17:08.879 --> 00:17:13.739 Sean Stephan from OxyChem, talked about how, um, the engineers, their 00:17:13.739 --> 00:17:17.759 plants, their manufacturing people are submitting all kinds of projects. 00:17:17.809 --> 00:17:23.059 All of which are efficiency gains and all of which are sustainability gains. 00:17:23.479 --> 00:17:27.739 These are the fundamentals to the business case for sustainability. 00:17:27.829 --> 00:17:32.689 Again, back to strategic discipline, business agility, responding 00:17:32.689 --> 00:17:35.359 where's needed, um, and aligning. 00:17:35.459 --> 00:17:37.409 Speaker 2: I'm a Lean six Sigma master black belt. 00:17:37.529 --> 00:17:37.949 Okay. 00:17:37.979 --> 00:17:38.129 Oh really? 00:17:38.129 --> 00:17:38.939 The old school. 00:17:39.079 --> 00:17:42.889 And so our job was to go in and save money, so we were reducing gas energy 00:17:43.219 --> 00:17:46.939 defects, waste everything a long time ago, re-engineering things to 00:17:46.939 --> 00:17:48.559 make him work better, more efficient. 00:17:48.979 --> 00:17:50.929 That's something that was natural and that's why it was easy for 00:17:50.929 --> 00:17:52.249 me to come into this space. 00:17:52.999 --> 00:17:56.779 And, and so everything that we do, so when you have, we have engineers submitting 00:17:56.779 --> 00:18:02.089 projects that are like switching out fan blades, automation, variable speed drives. 00:18:02.404 --> 00:18:05.674 Saving water tower automation, software, all this stuff. 00:18:05.704 --> 00:18:05.944 Yeah. 00:18:06.034 --> 00:18:08.194 It all comes with less chemicals to save money. 00:18:08.224 --> 00:18:09.124 It drives a carbon down. 00:18:09.124 --> 00:18:11.704 So now I have a low carbon product that costs less to make. 00:18:12.034 --> 00:18:15.274 Victoria: And then the third, uh, piece on this topic was 00:18:15.274 --> 00:18:16.564 really around customer value. 00:18:17.534 --> 00:18:22.484 Um, and how customer value is inherently, deeply cross-functional. 00:18:22.484 --> 00:18:26.774 So we had a, a speaker on pricing, pricing psychology actually. 00:18:27.104 --> 00:18:31.364 And we had a panel on customer value and how do we move beyond price? 00:18:31.544 --> 00:18:34.874 How do we create better prices? 00:18:35.154 --> 00:18:37.344 , How do we create better value for our customers? 00:18:37.734 --> 00:18:43.074 Really the panel, , which included leaders from ExxonMobil, Sasol, and 00:18:43.074 --> 00:18:49.114 Simon Kucher, , they emphasize that value creation isn't just the job of sales. 00:18:49.114 --> 00:18:54.574 This is not just one or two people's job to make sure that you've articulated 00:18:54.574 --> 00:18:57.814 value, that you've created value, that you're getting the best price, 00:18:58.294 --> 00:18:59.084 that you're securing the best. 00:18:59.544 --> 00:19:01.794 Deals and contracts for your business. 00:19:01.844 --> 00:19:07.184 , It exists at every organizational layer, whether it's supply chain, 00:19:07.184 --> 00:19:10.544 commercial r and d, your operations. 00:19:10.724 --> 00:19:13.154 Everybody's got a, a piece of this. 00:19:13.634 --> 00:19:19.604 Collaboration is critical to creating maximum value appropriately. 00:19:19.784 --> 00:19:21.614 I mean, I'm gonna say appropriate maximum value. 00:19:21.794 --> 00:19:23.714 'cause you don't always want to create maximum value. 00:19:24.704 --> 00:19:25.574 I might delete all this. 00:19:26.544 --> 00:19:27.084 I mean, I do this. 00:19:27.534 --> 00:19:33.114 So collaboration is key for creating customer value, the right level of 00:19:33.114 --> 00:19:35.304 customer value for your customers. 00:19:36.582 --> 00:19:38.712 Mike: In order to grow, the first thing it starts with is you have 00:19:38.712 --> 00:19:42.582 to have an opportunity set that is significant and valuable. 00:19:42.822 --> 00:19:46.602 And so how do you get an opportunity set in today's environment 00:19:46.602 --> 00:19:48.462 that, that meets that criteria? 00:19:48.732 --> 00:19:51.342 For me, the most important capability is the ability to 00:19:51.342 --> 00:19:52.722 collaborate with third parties. 00:19:53.082 --> 00:19:56.472 Um, you have to be able to work with customers, suppliers, consultants, 00:19:56.802 --> 00:20:00.042 others in the industry, uh, to come up with the best ideas. 00:20:00.042 --> 00:20:02.742 Because the, the brutal truth is none of our organizations 00:20:02.742 --> 00:20:04.062 has all of the best ideas. 00:20:04.242 --> 00:20:06.882 We all have a lot of good ideas, but there's more good ideas outside 00:20:06.882 --> 00:20:08.352 of our organization and inside. 00:20:08.652 --> 00:20:11.922 So if we can bring multiple parties together to collaborate, to develop 00:20:11.922 --> 00:20:15.972 that opportunity set than the systems, the processes, the people, the 00:20:15.972 --> 00:20:17.982 technology has something to target. 00:20:18.152 --> 00:20:21.822 Victoria: Our third theme that came through, again, I already told you AI 00:20:21.822 --> 00:20:27.632 and digitization, were ongoing topics through every part of the conference. 00:20:27.992 --> 00:20:33.062 Um, and this is that technology is the transformation engine, right? 00:20:33.212 --> 00:20:38.192 So if we think about where we are today in 2025 and where we want to be 00:20:38.192 --> 00:20:42.452 in 2030 or 2035, or heck even in 2026. 00:20:43.427 --> 00:20:47.357 Technology is the engine and in fact, halal Kaplan from Node. 00:20:48.042 --> 00:20:48.702 Is a quote from him. 00:20:48.702 --> 00:20:51.372 It's AI is like an internal combustion engine. 00:20:51.972 --> 00:20:53.412 It's not the result. 00:20:53.442 --> 00:20:55.512 It's what powers everything. 00:20:55.572 --> 00:20:58.692 And I think that is just brilliant because, you know, 00:20:58.692 --> 00:20:59.772 we've gone through this phase. 00:20:59.772 --> 00:21:03.522 Maybe you're still in this phase wondering like, oh, what about ai? 00:21:03.552 --> 00:21:04.452 How is AI doing? 00:21:04.452 --> 00:21:05.742 Is AI taking my job? 00:21:05.742 --> 00:21:06.882 Is it not taking my job? 00:21:07.122 --> 00:21:09.762 It's not, um, it's an engine. 00:21:09.822 --> 00:21:10.572 It's a tool. 00:21:10.572 --> 00:21:12.912 We need to absolutely need to harness it. 00:21:12.927 --> 00:21:12.987 It. 00:21:13.527 --> 00:21:16.767 But, but we, the people need to harness it. 00:21:17.037 --> 00:21:20.217 Um, and in fact, Milan, Taylor, I'm going back to Milan. 00:21:20.217 --> 00:21:23.457 He had so many great nuggets in his speech about talent. 00:21:23.787 --> 00:21:27.477 He talked about, it's not about the technology, it's about the trust. 00:21:28.017 --> 00:21:30.417 You can implement technology pretty well in the industry. 00:21:30.477 --> 00:21:34.737 Maybe you feel like you're behind, maybe you feel like your head, but it's about 00:21:34.737 --> 00:21:39.027 the trust, the trust in your workforce, the training in your workforce to how to 00:21:39.027 --> 00:21:41.217 monetize and how to use this technology. 00:21:41.402 --> 00:21:47.042 Effectively, um, I think this whole aspect of, um, fostering. 00:21:47.652 --> 00:21:49.222 A culture of risk-taking. 00:21:49.512 --> 00:21:55.542 Big, big conversations about the fact that technology is moving so quickly. 00:21:55.872 --> 00:21:57.372 We have to experiment. 00:21:57.402 --> 00:21:59.772 We have to experiment, we have to take risks. 00:21:59.772 --> 00:22:02.022 We have to try things and say, yeah, that was great. 00:22:02.112 --> 00:22:03.012 Not gonna work again. 00:22:03.342 --> 00:22:05.322 Um, and in fact, Charlie Laurie, who 00:22:05.372 --> 00:22:08.102 was the moderator on the digitization panel. 00:22:08.372 --> 00:22:12.752 He talked about technology experimentation a little bit like 00:22:12.752 --> 00:22:14.192 we experiment in the lab, right? 00:22:14.402 --> 00:22:19.052 So we try formulations, we do experiments, we're creating new molecules. 00:22:19.412 --> 00:22:21.392 They are not right the first time. 00:22:21.782 --> 00:22:25.112 We go through dozens of experiments, dozens of combinations 00:22:25.112 --> 00:22:26.822 to get to the right solution. 00:22:27.722 --> 00:22:29.522 And technology's a little bit the same way. 00:22:29.582 --> 00:22:35.347 We're in a period where it is rapidly advancing, you need to give yourself 00:22:35.407 --> 00:22:40.957 room to experiment, to figure out what works, what doesn't work for your 00:22:40.957 --> 00:22:44.707 company, your organization and the tools themselves and the technologies 00:22:44.707 --> 00:22:46.717 themselves are changing immediately. 00:22:47.017 --> 00:22:50.737 Shabnam Najan from Evonik, who is on our digitization panel. 00:22:50.947 --> 00:22:53.587 She talked about digital transformation. 00:22:53.647 --> 00:22:55.117 It's not about technology. 00:22:55.327 --> 00:22:59.497 So again, even though we said technology is a transformation engine, it is. 00:22:59.917 --> 00:23:05.927 Um, but digital transformation, it's about making things better and 00:23:05.927 --> 00:23:09.977 being business first, technology second, and then the people. 00:23:09.977 --> 00:23:13.337 It's like this, this three things that go together that I've already talked about. 00:23:13.337 --> 00:23:18.767 People and culture, technology and business agility and execution. 00:23:18.827 --> 00:23:22.457 So critical to success and transformation. 00:23:23.069 --> 00:23:25.979 Speaker 13: Jimmy you mentioned yesterday a lot of, uh, chemical 00:23:25.979 --> 00:23:27.989 industry is a very regulated market. 00:23:28.169 --> 00:23:29.159 Yes, that's true. 00:23:29.159 --> 00:23:33.269 I always say regulation is a double-edged sword, but the regulations 00:23:33.269 --> 00:23:41.069 such as REACH TSCA GHS, that needs the AI to be adoptable, auditable, 00:23:41.099 --> 00:23:46.229 traceable, aligned with the lots of, um, governance, uh, rule. 00:23:46.529 --> 00:23:48.539 And that will slow down the process. 00:23:48.539 --> 00:23:48.599 Yeah. 00:23:48.959 --> 00:23:51.449 But at the same time, the good part is. 00:23:51.809 --> 00:23:55.169 You can trust the data, you can get the high quality data. 00:23:55.859 --> 00:23:59.309 And then the last one, which I think the most important one, 00:23:59.309 --> 00:24:01.469 we heard it all yesterday. 00:24:01.499 --> 00:24:04.769 We heard it all today, is about culture, is about people. 00:24:04.889 --> 00:24:04.979 Yep. 00:24:05.609 --> 00:24:07.559 Implementing new technologies easy. 00:24:07.679 --> 00:24:12.329 You can implement as many technologies as you want, but if you don't have the people 00:24:12.629 --> 00:24:16.679 that they don't believe in technology or more importantly, they drive this 00:24:16.679 --> 00:24:19.109 technology, the technology will fail. 00:24:19.499 --> 00:24:23.849 So I would say the chemical is making a great change. 00:24:24.449 --> 00:24:27.869 The, they put digitalization as part of their strategy. 00:24:27.869 --> 00:24:33.239 They are empowering the people, but it is still a very uneven journey. 00:24:33.889 --> 00:24:37.949 Victoria: All right, that is a highlight of the themes coming out of two great 00:24:37.949 --> 00:24:42.899 days of conversations, speakers, panels and attendees at the Chemical Summit, 00:24:43.859 --> 00:24:49.829 People and culture are the backbone of transformation in an AI enabled world. 00:24:50.474 --> 00:24:53.054 All three are needed to work together, right? 00:24:53.234 --> 00:24:57.884 People and culture, business agility and alignment, which you can also translate 00:24:57.884 --> 00:24:59.954 to strategy, process, and collaboration. 00:25:00.464 --> 00:25:03.254 And then technology is the transformation engine. 00:25:03.584 --> 00:25:04.754 And it's an engine. 00:25:05.144 --> 00:25:06.194 It's not the result. 00:25:06.224 --> 00:25:07.654 It's helping us get where we need to go. 00:25:07.939 --> 00:25:10.634 So, um, that's it for today. 00:25:10.844 --> 00:25:13.094 Lots of great conversations and insights. 00:25:13.094 --> 00:25:15.164 If you have any questions, reach out and let me know. 00:25:15.224 --> 00:25:19.004 And if you're feeling some fomo, like, oh, I should have been there. 00:25:19.269 --> 00:25:21.879 Yes, you should have been there, be there next year. 00:25:21.879 --> 00:25:23.589 We're working on finalizing our dates. 00:25:23.859 --> 00:25:28.479 Um, The Chemical Summit will be happening again in fall of 2026. 00:25:28.629 --> 00:25:33.099 And in the meantime, if you are looking for ongoing engagement, 00:25:33.099 --> 00:25:36.939 thought leadership, with peers across the chemical industry. 00:25:37.239 --> 00:25:40.749 Stay tuned, uh, for the Chemical Executive Mastermind. 00:25:40.749 --> 00:25:42.549 In fact, you can join the wait list. 00:25:42.549 --> 00:25:46.359 I will include the link in the show notes so you can head straight there. 00:25:46.689 --> 00:25:51.099 And that is where leaders connect and meet together over the course of 00:25:51.099 --> 00:25:55.989 a year to talk about key topics that are affecting the industry, get some 00:25:55.989 --> 00:25:57.729 connection and insight from peers. 00:25:58.254 --> 00:26:02.064 Fundamentally grow their leadership for themselves and their businesses. 00:26:02.064 --> 00:26:04.704 So that's it today for the Chemical Show. 00:26:05.034 --> 00:26:06.384 Thank you for joining us today. 00:26:06.384 --> 00:26:09.324 Keep listening, keep following, keep sharing, and we will 00:26:09.324 --> 00:26:10.899 talk with you again soon. 00:26:14.558 --> 00:26:16.748 Speaker 25: Thanks for joining us today on The Chemical Show. 00:26:17.108 --> 00:26:21.608 If you enjoyed this episode, be sure to subscribe, leave a review, 00:26:21.848 --> 00:26:25.238 and most importantly, share it with your friends and colleagues. 00:26:26.258 --> 00:26:29.558 For more insights, visit the Chemical show.com 00:26:30.008 --> 00:26:31.513 and connect with us on LinkedIn. 00:26:32.288 --> 00:26:36.248 You can find me at Victoria King Meyer on LinkedIn, and you can also 00:26:36.248 --> 00:26:38.408 find us at The Chemical Show Podcast. 00:26:38.588 --> 00:26:41.768 Join us next time for more conversations and strategies 00:26:42.068 --> 00:26:43.838 shaping the future of the industry. 00:26:44.228 --> 00:26:44.948 We'll see you soon.