Leading Petrochemical Company Embraces eCommerce with Online Marketplace.
Established in 2002 from the merger of 6 companies, Braskem is the largest petrochemical company in the Americas and the world’s leading biopolymer producer.
Braskem’s goal of going online was simple: take their entirely offline business and modernize it with an online marketplace for a self-serve customer experience. Given their industry, Braskem first needed to test if their customers would even adopt a digitized buyer experience. To test their theory, Braskem worked with BCG Digital Ventures to build a minimum viable product (MVP) of their ideal marketplace to test out adoption rates on a small group of customers to see what the actual demand would be.
After running their test for 5 months and seeing that there actually was a demand for a digitized marketplace in the petrochemical space, Braskem took the next step of selecting AAXIS and Oro Commerce to transform their proof of concept into a live digital commerce channel - Braskem's Edge Portal.
In Phase 1, the Edge portal focused on moving Braskem’s existing B2B buyers to the Edge Marketplace giving them access to features such as:
- Incentivizing online forecasting of order quantities by providing personalized accuracy trend insights between previous orders and forecasts.
- Digital self-service order capture, order status, order tracking and analytics.
- A spot marketplace that offers up "factory seconds" as well as prime products at a steep discount on a first come first served basis.
- Collaboration space to facilitate interaction for sample requests and qualification of products to fit industrial processes
- Buyers have real-time visibility of order status without the need to contact customer service. Tracking of rail cars and truck shipments allows for better planning.
- Buyers are forecasting demand for coming periods and have clear visibility into the accuracy of their forecasts against orders placed to improve their ordering process.
- Buyers’ sample requests and discovery & qualification of a product for a specific need, which previously was a manual process that could typically take months, is now tracked and organized by the Edge portal drastically reducing the time required.
- Implemented over 500 additional features/enhancements in first eight months using an Agile/iterative approach to continuously developing the Edge portal.