Quality 4.0 helps leaders benefit from technology
Is your company grappling with the hard-hitting waves of technological disruption? Simply using technology at your business does not ensure success. Apps are a particularly useful example of technology that fails to live up to its hype: Only 200 apps out of around 1.6 million enjoy a whopping 70% of use. IQS understands that the responsibilities of industry leaders include effectively leveraging rapid change and creating an aggressive strategy for corporate success that aligns with quality management objectives. A recent research study developed by LNS Research, “Quality 4.0: Get Educated, Get Involved, and Build a Successful Strategy,” elucidates exactly how corporate leaders can utilize a powerful knowledge base to construct an informed direction in the marketplace. Digital transformation in terms of quality is more than surviving in the modern market; it is about placing your business on the path to dominance. In short, Quality 4.0 helps leaders.
Quality: the missing piece of transformational success?
Let us face it: quality matters. Quality is what creates the brand image, enhances customer retention, and opens the door to new business. While a solid majority of businesses have either implemented or will implement an initiative to manage technological disruption, quality management has been neglected. However, quality can directly benefit from hi-tech solutions, such as analytics and the internet of things (IoT).
Key challenges seem to involve a hesitation on the part of leadership to embrace technology, which is largely driven by a lack of understanding of quality use cases as well as a failure to assess how certain aspects of quality, such as culture and supplier quality, can benefit from an evolving technological environment. The Quality 4.0 framework strives to address these issues with vital insights on approach and management.
Corporate objectives + quality ≠ alignment
How comfortable would leadership be if only 13% of the workforce showed up on any given day? It is unlikely that any company would consider this an insignificant issue. However, a recent LNS survey shows that corporate leadership may be the absentee parent: Only 13% of the quality teams that responded to the survey indicated that quality is a top management priority.
Quality is a key resource for any business since it directly impacts strategic objects such as customer retention. The LNS survey showed, however, that corporate objectives and quality objectives are frequently not aligned. This does not need to happen at every company. Using the Quality 4.0 framework, leaders can revise their approach to ensure that quality and corporate objectives align while benefiting from disruptive technologies.
Dancing with disruption
Understanding how technology can enhance the bottom line results in improved business development strategies. Quality 4.0 provides a number of use cases that create a strong foundation to understand quality in light of disruptive technologies. For example, companies typically monitor the manufacturing processes in order to ensure quality, but this traditional approach relies on the product being equal to the sum of all its checked parts, which does not always ensure successful outcomes. Many products are now IoT-enabled devices, smart products that can perform self-checks on various parts of the system after they are completely assembled (such as smart washers or dryers). This new capability can boost quality and ensure its alignment with corporate objectives while taking advantage of disruptive technologies like the IoT.
Quality in the age of digital disruption requires a strong, involved leadership that incorporates lessons from use cases into business and quality strategies. This may require a re-working of current approaches. However, optimizing and aligning strategic objectives with quality can result in more stream-lined processes, better end products, and a stronger brand image.
Are you interested in obtaining detailed insights into how your business’s quality can benefit from disruption? “Quality 4.0: Get Educated, Get Involved, and Build a Successful Strategy” contains information about the Quality 4.0 Operational Excellence Framework that can enhance corporate success.