Practical Cost of Quality
Venue: Kuala Lumpur
|Event Date/Time: Jan 28, 2008||End Date/Time: Jan 29, 2008|
Venue: Legend Hotel, Kuala Lumpur, Malaysia
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.