This offering is for
- For Business Leaders and Middle Management wanting to identify cost reduction opportunities in their Process / Program / Business and implement Continuous Improvement initiatives.
- All Six sigma professionals (BB/MBB) to help them identify Process Improvement Opportunities, and quantify the costs post improvement in terms of Revenue and Cost Savings.
- Help understand the components (Prevention Costs, Appraisal Cost, Failure Costs) of Cost of Quality (COQ).
- Understand activities that are covered for each component of COQ and accordingly derive cost for each activity.
- Understand relationship between COQ components and Process Improvement Initiatives.
- Duration for session shall be for 4 hrs.
USP of the offering
- This is a non-standard program, with a potential to draw attention of Business Leaders who would be keen to reduce costs.
- Voice of Business : Undertanding the Business Context for COQ.
- History & Definition of Cost of Quality (COQ).
- Understanding Iceberg of COQ – Visible & Hidden Costs.
- Components of Cost of Quality (Prevention, Appraisal, Failure).
- Activities related to each Component of COQ.
- Concept of 1:10:100 Rule.
- Optimum Cost of Quality Model.
- Approaches to reduce COQ.
- Overview to Quality Cost Models (PAF, Taguchi Loss Function, Cost Benefit Analysis).
- For Business Leaders, Middle Management, Six Sigma Practitioners (BB/MBB) who have an idea of cost estimation for their Process / Program / Business. Deriving components of Cost such as Cost of Service, Total Cost of Service, Cost Benefit Analysis etc.
1. What is Quality ?
2. Definitions of Quality?
3. Dimensions of Quality for Product & Service
4. Evolution of Quality
5. Introduction to Quality Management System (QMS), Overview to QMS & Quality Policy
6. Why Quality is Important?
7. Cost of Quality
- Appraisal Cost – Inspection (In process, Final), Measuring, Testing, Calibration
- Prevention Cost – Process Performance Review, System Audit (QMS) – Internal & External, Training – Internal & External, Vendor Selection & Evaluation
- Failure Cost (COPQ) – Cost of Poor Quality
- Internal Failures – Errors / Defects / Defectives – rework
- External Failure – Penalties, Loss of market share, Product Recalls & Rework
- Concept of Hidden Factory, 1:10:100 Rule, Iceberg Model of COQ,
8. Approaches to reduce COQ