On Thursday, June 16, LNS Research hosted a webinar, "Quality Management in the Boardroom: Building the Executive Business Case for EQMS." The presentation focused on giving quality leaders a roadmap to a common issue we find in our conversations with many organizations: they often lack the framework for elevating quality management to the executive level concern it really needs to reach to transform from a cost center to a value center, and transform quality management maturity.Read More
If you’ve read LNS’s Monday Musings providing our perspective on current events in industry, you’ve likely seen the term “shadow quality” in this blog post. So, just what is shadow quality?Read More
According to LNS Research data, the Industrial Internet of Things (IIoT) seems poised to gain widespread adoption soon, as 37% of 685 respondants expcet to invest in IIoT in the next 12 months. This is more than three times larger than the total population of companies that previously invested! While exciting, this means that a large portion of the market will be deploying IIoT with no or limited experience,Read More
Many companies that have pain points around quality today are exploring different areas for improvement. Some are investing in enterprise quality management software (EQMS) solutions or rethinking the way the cost of quality is measured. These are both initiatives that can have a positive impact on quality and are worth the time and capital investment.
Electronics manufacturers face a difficult set of market forces, such as rapidly changing customer preferences, shrinking operating margins, managing a complex global supply chain, and uncertain demand. To overcome these issues, it’s common for executives to develop an operational excellence program that aligns key resources with operational, financial, and quality objectives.
Last week, we shared some of our most recent quality management data. Our post Cost of Quality: More than Risk and Compliance discussed the relationship between quality management objectives, financial objectives, and whether or not companies choose to measure the cost of quality. The results were intriguing, prompting us to take a deeper look into the cost of quality metric and its correlation with other variables.
Minimizing costs has been and always will be a critical component of industrial strategy. The growing global supply chain helps to improve operating margins, but in many ways, its complexities make it more difficult to compete. Additionally, regulatory burdens, among other areas, further shrink operating margins. Faced with pressure, managers are continuously looking for innovative solutions to improve financial and operational performance.
Creating a system of metrics that can be monitored, analyzed, and improved upon over time should be on the short list for any Operational Excellence model. Because there are so many metrics to choose from, it's understandable that decision-makers focus more on the final numbers than on how they were derived. In our Executive Dashboard series, we aim to break this habit, drilling down on the variables of the most important metrics to provide an additional level of granularity for top decision-makers. This week we discuss the Cost of Quality model.
To effectively provide high quality products, quality management has to become part of each employee’s everyday thought process. Market leading companies can easily attest to the operational, branding, and bottom line benefits of this approach. However, adopting an enterprise-wide how will this decision affect and improve quality mentality is far more difficult than just sending out a memo. It has to be strategically implemented into an organization’s culture over time.
In our last blog, we talked about metrics that can help corporate executives better understand the effectiveness of quality management strategy in their organization. In this blog, we will be discussing metrics that are a must for the dashboard of any plant manager. If you are involved in quality and operations decisions for manufacturing or supply-chain management, one of your most important responsibilities is to ensure that the final output of your plant is in compliance with internal and external quality standards.