Kumho Petrochemical: Process Standardization

Headquartered in Seoul, South Korea, Kumho Petrochemical Co. Ltd has become a petrochemicals industry leader in Korea by emphasizing continuous innovation in research and development. With sales of more than US$2.7 billion and approximately 1,000 employees, the company specializes in five areas: synthetic rubbers, synthetic resins, specialty chemicals, electronic chemicals, and combined heat and power generation.

Notable customers to which Kumho Petrochemical provides specialty chemicals include three leading Korean tire makers—Kumho Tires, Hankook Tires and Nexen Tires—as well as major global tire companies such as Michelin Group and Bridgestone Corp.

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In 2007, Kumho Petrochemical chose Accenture to collaborate on a significant effort to improve the company’s business forecasting and global competitiveness via a major process innovation and enterprise resource planning (ERP, FI, CO, TR, SD, LE, MM, PP, QM, PM, cProject, Enterprise Portal, XI, BW/EIS) engagement.

Executives at Kumho Petrochemical retained Accenture because of our deep experience in the chemicals industry, because of our reputation as the leading consulting company in process innovation and enterprise resource planning implementation, and because of our previous project success at Kumho Tire, a company affiliated with Kumho Petrochemical.

Accenture professionals teamed with Kumho Petrochemical to harness the insight of chemical industry experts, as well as process innovation and ERP specialists, to introduce a global change management initiative. To support Kumho Petrochemical’s goal of growing revenues and increasing profitability, Accenture applied a powerful methodology called Accenture Delivery Methods for SAP.

This helped speed and standardize delivery, reduced cost and mitigated risk, and provided optimal functionality for an SAP-based system that unifies materials codes, manages materials, supports process standardization in each workplace, and provides a foundation for the best possible decision making.

Today, Kumho Petrochemical is harnessing its new SAP-based ERP system to standardize processes and to grow its customer base globally—both key aspects of becoming a high-performance business.

"Accenture has a deep understanding of the chemicals industry and also enjoys a reputation as a leader in SAP implementations. Furthermore, they had done fine work for us in an engagement at Kumho Tire. Teaming with Accenture, we felt confident on our journey towards high performance.”
—Yang Kwang-Ho, CSO and CIO, Kumho Petrochemical