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Cost of Quality

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.

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.

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Learn More About Cost of Quality (CoQ)

Temple QMS can provide Knowledge, Guidance and Direction in CoQ activities. Whether you’re looking for consultancy or seeking  advice, we offer a bespoke service that is tailored to your needs and requirements.