As we all know “Cost is more important than Quality, but Quality is the best strategy to reduce cost”. We should be aware that ‘Poor quality costs can make an organization lose 25% to 35% of sales amount due to a variety of reasons like warranty, compliant servicing, scraps, redesign, loss of resources and capacity due to rework and reprocessing, free replacement delivery, re-grade, additional discounts, loss of management time, loss of orders, loss of interest in delayed payments and loss of customers. Cost is inversely proportional to Poor Quality. A quality complaint can lead to multiple ripple effects that can impact 10X or more than just the replacement cost due to the above reasons. This puts huge pressure on profit margin as everyone is trying to survive and grow in a limited market size. Every amount saved from the cost of poor quality will add to the profit margin.
This Cost of Quality (COQ) training course provides skills to identify, measure, analyse, reduce and prevent poor quality from being generated in every process and activity to contribute to reducing cost and ensuring profitability.
By attending Cost of Quality workshop, delegates will learn to:
- Establish a comprehensive COQ program.
- Measure and track COQ performance and progress.
- Prioritize improvement targets.
The Cost of Quality class is ideal for:
- Engineers, Quality Professionals, Managers, Support Staff