The American Society for Quality (ASQ) suggests that the Cost of Quality is usually around 15 - 20% of sales, often as high as 40% in some organizations. Clearly, you need to know what that means and how to prevent errors and omissions from hurting your business. Cost of Quality (COQ) is a measure of the cost an organization faces due to the production of substandard … [Read more...]
I listened to a presentation recently where the speaker suggested that the highest quality producer is usually the lowest cost one. Can that be true? And if so, how do you become part of that club? The Cost of Quality (COQ), sometimes called Cost of Poor Quality (COPQ) is a measure of the cost of producing the quality of products to the minimum desirable level. Most … [Read more...]
Experience has taught me that the highest quality producer is quite often the lowest cost one. Say what? This is because of a factor called the Cost of Poor Quality, sometimes called Cost of Quality (COQ). Although production of high quality products and services usually requires an investment in equipment, people, or processes, the production of poor quality products … [Read more...]
