In this blog, we bring to the fore several macro trends shaping the hi-tech landscape globally, and why an EQMS is crucial to drive efficiency through several key processes that will have a direct impact on quality and compliance.
Unlike life sciences, in the case of hi-tech one could argue that quality takes precedence over compliance. In life sciences or medical device enterprises, regulatory compliance is a major part of the company’s process from idea to market. In the case of hi-tech sectors like electronics, semiconductors, consumer electronics, automotive electronics or telematics and even IoT-enabled devices, a world-class cloud-based EQMS can have direct impact on four specific metrics - Quality, Cost, Delivery & Brand (QCDB).
The Macro Trends in Hi-Tech
Our experience in this space has helped us spot the following big trends in Life Sciences:
- According to Euromonitor International’s recent research report, the production of hi-tech goods is expected to triple in value to reach USD 16 trillion by 2030. A major part of this growth is expected to come from IoT-based hi-tech products. We can expect everything from a microwave to a light bulb to become an IP-device that can be controlled from an app over the next few years
- As an extension of the previous trend, interconnected networks with a large number of non-computer IP-devices in the network will become the norm
- Shrinking product life cycles is the new normal. As computers, electronics and various IP-devices enter the market, their idea-to-market life cycle is expected to keep pace with the software world
- New features or functionality in hardware products can be delivered over-the-cloud through a software update, much like how a tune-up of a Tesla engine comes in over-the-air
- Sustainable manufacturing of hi-tech products is becoming mandatory, involving ‘greening’ the factory floor by optimising facilities and production processes, reducing emission of waste and greenhouse gases, and utilizing alternative energy sources
- From product design to materials management, storage, packaging, and recyclability, hi-tech manufacturers need to evolve processes to reduce the impact of each product on the environment
- Personalization and customization have created a demand for agile manufacturing and 'micro-manufacturing' of small batches of products in small facilities
- In the semiconductor industry, the technology node sizes have been shrinking from the 180nm–130nm range, down to 28nm and 14nm nodes. Moore’s Law continues to work in semiconductor manufacturing, powering the way for more IoT-enabled gadgets in the market
- More complex transistors in the same amount of chip space is expected to increase quality issues dramatically due to increased cycle time and faster machine throughput
- Cybersecurity-related risks go up as more physical devices become part of connected networks
What does all this mean from a product manufacturing and supply chain perspective?
Here are some key challenges and processes that must be attacked head-on:
- There is demand for faster product innovation, new launches and upgrades - both in hardware and software
- Product life cycles are shrinking, resulting in the need for tighter processes and more robust supply chains with better quality of raw materials and quality measurement
- The hi-tech sector has embraced global manufacturing for several years with Taiwan and China continuing to dominate the world in terms of electronic manufacturing. Hi-tech OEMs will have to build a robust global supply chain management process and constantly track key quality metrics across the chain
- Driving efficiency at scale is critical to ensure profitability for hi-tech companies
- Continuous Improvement (CI) is a key part of any hi-tech manufacturing process
- Network-level cybersecurity risks caused by IoT devices can cause large-scale challenges and must be addressed by all elements of the network
The Role of an EQMS
A cloud-based EQMS like ComplianceQuest with our 12 key solutions can be customized for the hi-tech industry. The product, in sync with your company’s ERP and CRM systems, can be designed and architected to tackle each of the challenges mentioned above.
ComplianceQuest’s EQMS, built and run on cloud-based Salesforce.com enables this by:
- Measuring key quality and supply chain metrics, deriving quality insights through organization-wide dashboards and reports
- Providing visibility across supply chains, whether global or local, ensuring environmental sustainability goals through a robust continuous supplier assessment process
- Customizing quality management processes to ensure defect-free manufacturing and lower production costs
- Integrating quality processes with existing manufacturing processes to facilitate an agile environment for a shorter product life cycle
- Facilitating a closed-loop system to tracking all quality events in manufacturing locations world-wide
- Ensuring smooth regulatory compliance across all geographies
- Deploying specialized equipment and incident management modules to monitor quality events on the factory floor, in addition to monitoring cybersecurity loopholes
- Driving operational excellence through CQ’s audit and CAPA solutions, which work in tandem with compliance and non-conformance management, while ensuring regulatory processes
- Customizing training management to distribute programs for key personnel, including programs covering the latest trends in hi-tech
- Tracking risk and change initiatives with a data-first mindset
CQ’s EQMS system is designed for automation and customization, allowing the quality leader to choose the modules applicable to one’s context and scale as the enterprise evolves.
The EQMS solution drives efficiency and productivity while reducing complexity of operations.
Currently, ComplianceQuest serves customers in over 800 cities across the world in several sectors including Aerospace and Defense, Automotive, Cannabis, Consumer Packaged Goods, General Manufacturing, Hi-Tech, Healthcare and Life Sciences. We’ve worked with the world’s largest Hi-Tech firms, rapid-growth start-ups and mid-size growth companies in the hi-tech sector.
Request a demo and we can show how ComplianceQuest has delivered digital transformation and automation for hi-tech firms around the world. Please email us at email@example.com.