Alibaba Seeks To Raid The Petrochemical Market

Alibaba Seeks To Raid The Petrochemical Market

Alibaba is all set to help Sinopec with supply chain management.

Alibaba Group Holdings is one of the few Ecommerce companies that have made their way to the top in such a short span of time. The company has shown exemplary growth that governs the potential that they have as a firm.

Alibaba Group is not just dominating the E-commerce world but Chief Executive Officer of the company, Jack Ma, has deeper insights that have forced him to explore numerous possibilities. BABA’sbusiness, Aliyun, is now aiming to disrupt the petrochemical industry.

The company has decided to help Sinopec in order to let them explore more possibilities in the market for petrochemicals. It has vowed to help the petrochemical market by offering assistance in terms of making the production chain process more smooth and convenient.

The Chinese online retail has plans to assist the largest oil refiner situated in Asia by making them comfortable with Big Data analytics through their cloud computing business, Aliyun.

The company, which recently launched its cloud computing service under the banner of Aliyun, is quite similar in nature to the cloud-computing giant, Amazon. It has followed the latter’s footsteps to grow and has signed a pact with Sinopec through which they help them with data analytics, particularly in the production chain mechanism of the oil refiner.

This venture will help Sinopec largely, as now they will be able to keep a track of supply, demand, services, and emissions, etc. This will also open new growth opportunities for the firm and will make them familiar to the concept of Internet of Things (IoT) as well. The ‘Internet of Things’ canvas includes online payment, vehicle network financing, Ecommerce, and online to offline commerce etc.

According to a statement issued by Sinopec: “We hope to be able to use Alibaba’s technology and experience in dealing with large-scale system architecture, multi-service data sharing, data applications in the large-scale petrochemical, oil and chemical industry operations.”

Allen Zhang, Head of Alibaba’s Aliyun, believes that by assisting the oil refinery giant to make its way digital and incorporate big data technologies, they will be able to play an important role in bringing about ecofriendly solutions and spark several business opportunities.

The company has attracted the Chinese market for cloud computing in a short span of time. The Chinese ecommerce giant currently dominates 23% of the entire market in the country with almost 1.4 million customers. The company can further increase its portfolio by taking big companies on board, such as Sinopec.

 

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