CLARIANT
1995 Year founded
10,000 + Number of employees
3.860bn 2020 Revenue
This is not what saves Clariant costs in procurement . Mirgeler explains that to drive cost saving “ we need to look at artificial intelligence ( AI ) or digital tools to reduce spend . Our focus is where we can have technologies help us to make smarter decisions on when we buy , where we buy and how we buy .” An example of how Clariant is harnessing AI in this way is for forecasting . “ We have launched a raw material forecasting tool for ourselves , which essentially simulates raw materials prices applying artificial intelligence , so we can make smarter decisions on when is the best time to buy certain raw materials , it ' s very specific , but very powerful . We call this end to end forecasting , this is actually quite interesting , and we actually have a collaboration with our developing company for further improvements .”
When asked about the importance of cost savings , Mirgeler states , “ of course , savings are essential in business . So we have targets , we have them broken down into each category and buyer , identifying seven areas where we are active and where we are providing actual value , whether this is employee engagement and development of people or if it ' s looking at the inventories that we can control , the cash that we can generate , or moving noncore activities to suppliers .”
102 April 2021