Cost of Quality Training
Create impact by designing and implementing a CoQ program
Temple QMS is a leading provider of Cost of Quality training
In the quest for excellence, there is a significant need for companies to have a better awareness regarding the cost of quality.
What is a Quality Cost?
Cost of Quality is the total expenses incurred by an organisation in achieving and maintaining good quality as well as in managing poor quality across its operations, with the objective of creating the highest level of customer satisfaction.
The concept of Cost
of Quality
Fundamental concepts:
An organisation focused on quality promotes a culture that results in the behaviour, attitudes, activities and processes that deliver value through fulfilling the needs and expectations of customers and other relevant interested parties.
Efficiency
Relationship between the result achieved and the resources used.
Effectiveness
Extent to which planned activities are realised and planned results are achieved.
Innovation
New or changed – realising or redistributing value.
Determination
Activity to find out one or more characteristics and their characteristic values.
Benefits of a Cost of Quality program
How can a COQ Program benefit us?
What is the approximate cost of preventing quality defects, detecting them if they occur, and recovering from substandard quality issues (as a % of sales)?
In the event that they do occur.Help us identify the processes, products, and services that have the biggest impact on COQ.
We can determine whether our efforts to reduce COQ are effective by tracking and monitoring COQ over time.
Quality Improvement and Quality Control Costs can be measured and tracked using Cost of Quality. It requires commitment from a variety of functions throughout an organisation.
COQ needs to be understood by these groups and meaningful measures need to be established together. Assuring that all members of the Cost of Quality team are on the same page with Cost of Quality online training is essential. The training will enable team members to identify sources of COQ data, agree on standards for approximation values, and develop a regular COQ reporting plan. In addition to identifying improvement projects, participants will be able to prioritize them based on the data.
Download our Cost of quality Whitepaper.
In this free whitepaper for the construction industry created by Laura Chalkley and Bob Hughes, we show you how the
Cost of Quality is not the price of creating a quality product or service. It's the cost of NOT creating a quality product or service.
