Practical Cost of Quality - Cost Reduction Strategies January 28, 2008

Quality processes cannot be justified simply because "everyone else is doing them" - but return on quality (ROQ) has dramatic impacts as companies mature. Research shows that the costs of poor quality can range from 15%-40% of business costs (e.g., rework, returns or complaints, reduced service levels, lost revenue).

Most businesses do not know what their quality costs are because they do not keep reliable statistics. Finding and correcting mistakes consumes inordinately large portion resources.

Typically, the cost to eliminate a failure in the customer phase is five times greater than it is at the development or manufacturing phase. Effective quality management decreases production costs because the sooner an error is found and corrected, the less costly it will be.
Benefits

* Understanding the concept of Total Cost of Quality
* Learning to balance cost of prevention and cost of failures
* Appreciating the Return on Quality (ROQ) and Return on Investment (ROI)
* Developing a strategic Cost of Quality to reduce cost in operations
* Analyzing the cause of poor cost of quality (direct and indirect)
* Implementing actions to improve overall cost of quality for better profitability

Who Should Attend

Quality, Production, Operations Managers, Executives, Engineers and Supervisors who wish to improve on the quality, productivity and costing in their process line.

Official Website: http://www.gin-my.com/ws_costofqualityjan08.php