- Duration: 2 Days
Course details
More than any other subject of interest to business people the world over in the past decade, Quality has become a focal point of activity. But unfortunately, the most reliable and accurate measure of that "elusive" attribute, namely, the Cost of Quality, is still unclear in a lot of people's minds. The Quality profession has always been about improving processes, products and services. From TQM to PDCA to Six Sigma, all Quality methodologies are focused on eliminating defects and the root cause of those defects. It involves products that satisfy your customers, running processes at greater efficiencies, producing less waste and increasing business productivity. All of this, of course, is based on the fact that these processes are driving financial benefits. If it didn't make sense financially, would you still do it? In some cases you might, but as a rule of thumb you can't sustain a business unless you bring in revenue and produce a profit.
PROGRAMME OBJECTIVES
- Understand the Quality Cost Model that includes Prevention Costs, Appraisal Costs, Internal Failure Costs and External Failure Costs.
- Know where Cost of Quality fits into Quality Management Systems
- Appreciate the magnitude of Quality Costs on the business and benefits of implementing a Cost of Quality System.
- Develop a draft listing of the Quality Costs present within organization across the four cost categories.
- Devise a system to identify, track, analyze and take action on Quality Cost data.
- Use the tools that can support a Cost of Quality program.
- Create an action plan to support the full implementation of a Quality Cost system.
- Be aware of the Pitfalls
PROGRAMME OUTLINES
Introduction to Cost of Quality (CoQ)
Categories of CoQ
- External Failure Cost
- Internal Failure Cost
- Appraisal/Inspection Cost
- Prevention Cost
Examples of CoQ
Why is it important to track CoQ?
Comparison to 6 Sigma
Goal of a CoQ System
Model of Optimum CoQ
How to start a CoQ program? The Seven Step Aproach
Pitfalls of CoQ
Updated on 08 November, 2015Course Location
About SMF Centre for Corporate Learning
The Singapore Manufacturing Federation (SMF), formerly known as the Singapore Manufacturers' Association, was first established in 1932. Its main aim is to champion the Singapore manufacturing sector. With a membership of over 2,800 corporate members ranging from MNCs to SMEs, SMa carries out a myriad of activities to enhance the competitive edge of our members.
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