The award recognises LyondellBasell's status as a one-stop-shop for its customers in the global medical devices market.
"LyondellBasell differentiates itself from many of its competitors by offering customised products and services catering to the global healthcare market," states Frost & Sullivan Research Analyst Hariharan Ramasubramanian. "By adopting such a focused approach to medical devices, LyondellBasell is optimally positioned to create and enhance value for its customers."
LyondellBasell has historically been at the forefront in promoting the use of polyolefins in the medical device industry with its highly popular Purell brand. LyondellBasell offers strong technical support to its customers, while providing them with product certificates necessary for use of its Purell products in medical devices.
"LyondellBasell's Medical Protocol provides its clients with a certified product that complies with the requirements of European and US pharmacopoeia," notes Ramasubramanian. "This enables customers to rapidly get approvals for use of these materials in their medical devices and streamlines the complex validation process governing the use of OEM products in the medical sector."
Moreover, any changes that might be required to the raw material are notified to clients in principle at least 24 months in advance. This is a critical facility that cannot be provided by raw material suppliers that sell standard grades of polyolefins to the market.
The merger of Lyondell and Basell in 2007 has further boosted LyondellBasell's value proposition. This strategic approach has enabled LyondellBasell to provide more regional support to its clients, service markets from local production capabilities as far as possible and leverage on its strong regulatory understanding of the medical device markets to help clients in various regions.
"This combination further solidifies LyondellBasell's position as a one-stop-shop for its customers," says Ramasubramanian. "This is not only in terms of its immense product range, technical and regulatory services, but also because of its ability to provide these on a global basis."
A customer centric approach to the medical device industry also makes it possible for LyondellBasell to identify unmet needs in the industry better than the competition, and to be highly responsive to these requirements through its immense strengths in R&D.
For instance, realising the need and new regulatory requirements for a film polyolefin product line, LyondellBasell introduced new grades of low density polyethylene to this market in 2007, completing its offerings to the injection and blow moulded polyolefins market.
The Customer Value Enhancement Award is presented to the company that has best demonstrated the ability to expand its customer base, while maintaining its existing customer base, with more innovative value creation and enhancement strategies than competing vendors. This Award recognises the company's successful sales entry, customer acquisition and service strategies, and the degree to which those strategies have met customers' stated needs and requirements. Such strategies are expected to significantly improve customer interaction and contribute to customer satisfaction.
Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
LyondellBasell Industries (lyondellbasell.com) is one of the world's largest polymers, petrochemicals and fuels companies. It is the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including biofuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in The Netherlands, LyondellBasell is privately owned by Access Industries.
Dr. Michael Luetke, Global Marketing Manager, Healthcare Applications
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