Question

Cost of Quality is all costs incurred over the life of a product to achieve product or service quality. The Cost of Quality is a concept of what it costs a company for creating the wrong product or service. Cost of Conformance is the money spent during the project to avoid failures. Prevention costs to build a quality product includes cost for education and training, Document processes, equipment, design costs and time spent to do the job right the first time. Internal failure costs are cost found by the team. Costs on project and processes increase exponentially with rework, recalls, retesting, law suites and lost reputation. Managers believed in the past high quality resulted in higher costs. Juran and Feigenbaum studied the economics of quality and concluded the benefits out weighed the cost. Feigenbaum developed the concept of Total Quality Control. Quality Control monitors and records results of executing quality activities, identify causes of poor quality process or product quality. The Project team or Quality Control departments normally performs quality control.

Suppliers can deliver components on time by practicing total cost of quality. Companies partnering up with suppliers who qualify and provide suppliers with accurate specifications and schedules will benefit from on time deliver. Suppliers can cut their storage cost by keeping minimal stocks on hand.   

What do you think?  

Answer 1

1. Quality plays a major role in the production process, as where the customer always expect high quality products and they would compare the quality of the products with the competitors. So the company should always prefer providing quality products in the market.

2. Rather than time, cost etc quality should be first planned by the organization so that helps to cut the defect products and improvise the business process.

3. While cutting the defects the company would ensure on providing quality product to their customers and satisfy their needs and wants.

4. The demand can increase when the quality is high, the suppliers can plan according to the demand of the product and ensure towards increasing the quality even if the number is low.

5. Planning and controlling plays a major role in the company so that it will ensure the production to the completed on time with high end quality.