Why Adopting Quality 4.0 is the Key to Remaining Competitive

January 2, 2019

By Sparta Systems

 

According to a recent study by LNS Research, over 60% of companies are now pursuing an Industrial Transformation initiative. Quality improvement is at the forefront of Industrial Transformation as a critical differentiator for businesses. In fact, many manufacturers have declared that their Quality 4.0 initiatives must mature in the next 2-3 years for them to remain competitive.

Although a handful of leading firms are in the position to embrace the opportunity, the market has severely underinvested in quality technology and data management for decades. In fact, LNS Research found that by 2017 only 23% of the market had adopted quality management system (QMS) software. Meanwhile, early adopters are demonstrating why Quality 4.0 is a once-in-a-career opportunity to create a competitive advantage. 

While there are several challenges, it is increasingly important for organizations to build an effective quality strategy across the enterprise.  LNS Research found that while leaders across engineering and operations reported quality as their top priority, professionals from marketing, R&D, and information technology all felt a high level of responsibility for product quality. The cross-functionality of Quality 4.0 is inevitable, and it requires alignment across the enterprise.  

It is clear that quality touches the entire value stream, and firms who recognize and embrace this will stay competitive. In reworking the quality strategy, enterprises must be willing to analyze the value of quality to company-wide success. Implementing Quality 4.0 technology enables the alignment of quality objectives, culture, and processes.

Check out this eBook to learn how organizations can build a successful Quality 4.0 initiative to increase value and reduce the cost of poor quality.

 
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