One size fits all approach doesn’t necessarily work for organizations in today’s dynamic business environment. An ideal digital transformation platform gives you the flexibility to smoothly cater to your business requirements. Therefore, it is important for you to understand your customer requirements and evaluate how digital transformation platforms fit in.
Digital transformation, if done correctly, dramatically changes the competitive landscape by unlocking simplicity in how business is conducted and how customers experience it.
Choosing an Ideal Digital Transformation Platform-Six Considerable Criteria
1. Intelligent Business Process for Connected Enterprises
You should look for a platform that can bridge organization silos while connecting your processes, people, and content via low code process automation
2. RPA with BPM for a Holistic Customer Journey
You should choose a digital transformation platform that automates end-to-end customer outcomes with customer-centric processes leveraging robotic process automation (RPA). It helps you identify, analyze, classify opportunities and complaints, make intelligent decisions, and strengthen customer relationship
3. Omni-channel and Cross-channel Engagement for Enhanced Experience
You need to look for a platform that has cognitive intelligence, natural language processing, machine learning (ML), and digital sensing capabilities which provide human experience to employees, customers, and partners. It can predict future actions enabling omnichannel and cross-channel engagement, with smart, speedy, and contextually accurate responses
4. Contextual Content Service for Informed Decision Making
You must choose a platform that enables you with contextual content services capability, thereby creating a workplace without boundaries with anytime-anywhere content access and document management
5. Analytics for Continuous Process Improvement
You must choose a platform that deploys cognitive bots and content analytics to process all incoming contents, understands customer behavior, converts them into actionable insights, and facilitates continuous process improvement
6. Low Code for Rapid Application Development
Per Forrester, low-code development platforms have the potential to make software development as much as 10 times faster than traditional methods.
Increasing demand for application development while trying to manage inadequate IT resources is a perennial business challenge. You need to look at a low-code development platform that empowers your users to develop applications within the IT guardrails. It should provide low code/no code facility for developing mobile apps, process automation, straight-through processing, collaboration, business rules configurations, easy customer communication, and contextual content services
Organizational leaders who think they’re done with digital transformation and is a dusted thing for them, it certainly means they did not understand what it really means. To stay ahead of time, it is significant for you to keep innovating and be at par with the changing expectations of your customers and the competitive marketplace.
Criticality and reliability-centered maintenance go hand-in-hand. Think about it: We’re told to prioritize PMs for critical assets, to build a TPM plan that accommodates critical pieces of equipment, and to perform root cause analysis on machinery that we consider to be high priority based on criticality. But how do we actually decide what makes a piece of equipment “critical”? In short, it all comes down to risk. Performing a criticality analysis allows you to understand the potential risks that could impact your business.
What is criticality analysis?
Criticality analysis is a systematic approach to assigning a criticality rating to assets based on their potential risks. Still sounds kind of abstract, right? How can risk be quantified? It helps to think about criticality analysis as part of a larger failure modes, effects [and criticality] analysis (FMEA / FMECA).
As we’ve defined it recently, FMEA is an approach that identifies all possible ways that equipment can fail, and analyzes the effect those failures can have on the system as a whole. FMECA takes it a step further by conducting a risk assessment for each failure mode and then prioritizing what corrective actions should be taken.
Why is criticality analysis important?
As James Kovacevic of Eruditio describes, using a predetermined system to evaluate risk allows you to remove emotion from the equation. This ensures that reliability is truly approached from a risk-based point of view, rather than individual perception. Once equipment undergoes relative ranking based on its criticality, work can be properly prioritized and a condition monitoring strategy can be put in place. Performing an equipment criticality analysis also helps to clarify what can be done to reduce the risk associated with each asset.
Who’s responsible for criticality analysis?
So who actually carries out a criticality analysis? Industry experts say that it should be a cross-functional effort. We couldn’t agree more. It’s a much more effective process if input from operations, maintenance, engineering, materials management, and employee health and safety functions is considered. After all, risk can be defined differently for different teams. And since assigning risk will always be somewhat subjective, having a diverse background of knowledge to draw on will help to curb that.
How do you assess the criticality of an asset?
Asset criticality is the number value a business assigns to its assets based on their own set criteria. An asset criticality assessment can be done by creating a ranked list of work orders and orders in progress. This is known as an asset criticality ranking (ACR).
How to perform a criticality analysis
According to Kovacevic, there are two ways to carry out a criticality analysis. Both approaches produce a risk priority number (RPN) that allows you to rank the criticality level of each asset.
The first approach uses a criticality matrix, which is a 6×6 grid where severity of a given consequence (on the X axis) is plotted against the probability of that consequence occurring (Y axis). Naturally, if there is a high probability that a piece of equipment will fail in a way that causes great personal injury or severe operational issues, that piece of equipment is highly critical and should be prioritized accordingly. The number at the cross section of severity and priority for any piece of equipment is that piece of equipment RPN.
The second recommended approach is to separate the consequence categories by type (for example, health and safety, environmental, and operational). That way, you can rate how severe an equipment failure would be for each consequence category. For example, a piece of machinery that could cause severe personal injury upon asset failure would be a 5 or 6 in the health and safety category, but of almost no consequence to the environmental category (perhaps a 1 or 2), and moderately impactful to operations (somewhere in the middle). Once you’ve determined the severity of each consequence category for a given piece of equipment, you can multiply each of the categories together for that piece of equipment to get its RPN.
Once each piece of equipment has an RPN attached to it, you can rank them to assess which assets are critical. Kovacevic recommends grouping equipment into categories based on their RPN. Here are the categories he suggests:
Once each piece of equipment is ranked, maintenance managers can make decisions that are informed by risk, rather than gut feel. From here, all reliability-related activities and processes will run much more smoothly.