Assessing the Production of Novel Chemicals Using Business-Inspired Approaches
- Type: Conference Presentation
- Conference Type: AIChE Annual Meeting
- Presentation Date: November 17, 2020
- Duration: 16 minutes
- Skill Level: Intermediate
- PDHs: 0.30
Inspired by Porter's âFive forces frameworkâ an analysis tool commonly used for the development of business strategies , our group has recently published a novel algorithm for the assessment of promising biobased chemicals . The original framework proposes to take into account the bargaining power of suppliers and consumers, the threat of competing products, the entry barriers that a certain company will face, and the rivalry with established companies, to analyse whether a business will be attractive or not. Our algorithm translates these statements into metrics and decision making trees that make sense for chemical processing industries. Our goal in pursuing so, was to be able to include this market/ business perspective in our own product/process designs so that we could have a broader picture of the design problem, better communicate with companiesâ representatives and funding agencies, and ideally propose product/process pairs that can alleviate the weaknesses that the framework identifies.
The goal of this presentation is to discuss the framework itself, the rationale behind the development of the algorithm and the assumptions that we have made. Despite being developed thinking on biomass-based products/processes, the algorithm can be easily generalized to other settings; the changes required for this generalization will be discussed. The methodology itself will be exemplified by analyzing several of the products that are being considered for expansion of the production value chains in Uruguay: a country with no proven fossil feedstocks reserves but plenty of biomass and biomass-based residues and a population that increasingly seeks for green alternatives of traditional products.
This work was funded by the Agencia Nacional de Investigación e Innovación (ANII) Grants FSE_1_2015_1_109976 and FSE_1_2018_1_152900.
 Porter M. The five competitive forces that shape strategy. Harvard Business Review 2008;86(1):23-41.
 Helal A, Kreimerman R, Gutiérrez S,Torres AI. A market-driven algorithm for the assessment of promising bio-based chemicals. AIChE Journal. 2019;e16775.
|AIChE Member Credits||0.5|
|AIChE Graduate Student Members||Free|
|AIChE Undergraduate Student Members||Free|