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BENEFITS OF DOCUMENT
As a key factor of competitiveness, you must manage cost all the time, not only in times of pandemic outbreak or economic downturn. Reducing the Cost Of Quality (COQ) program helps achieve this.
This training fits well into any cost reduction or process improvement initiative, including Lean, Six Sigma and TQM. The COQ methodology instills a practical approach to quantifying the financial impact of the Cost Of Non-Conformance (CONC) and the Cost Of Conformance (COC). The COQ calculation methods are also used in quantifying the impact of Lean and Six Sigma programs.
This COQ PPT presentation covers four essential steps for setting up a measurement system to track COQ. These steps are identification, collection, reporting and analysis, and reduction of quality costs.
By teaching this presentation, you can improve the company culture and improve the bottom line. This presentation changes employees problem solving focus from quick fix solutions to preventing issues before they occur. This course teaches the skills to prioritize quality improvement opportunities based on the expected financial return.
1. Introduction & Basic Concepts of COQ
• Business case for quality
• Impact of quality improvement program
• Link between quality costing and profits
• Why are quality costs important?
• Why measure COQ?
• What is COQ?
• COQ iceberg model
• COQ versus Lean & Six Sigma
• Goal of COQ system
• Four phases of a COQ system
2. STEP 1: Identifying COQ Items
• PAF model
• Prevention costs
• Appraisal costs
• Failure costs
• Internal failure costs
• External failure costs
• Eight types of waste
• CONC checklists
• Guidelines for identifying COQ items
3. STEP 2: Collecting COQ Data
• Matching accounts with CONC items
• Quality costing
• COQ Data source
• Example calculations of Failure cost, Appraisal cost and Prevention cost
• COQ scorecard and indices
• Process flow for COQ reporting
• Collecting and reporting COQ data
• Role of Finance
• Role of line managers/supervisors
• Practical guidelines
4. STEP 3: Analyzing COQ Data
• Selecting quality cost bases
• Trends analysis
• Pareto analysis
• Variance analysis
• SMART criteria
• Set targets for improvement
• Case study
5. STEPp 4: Reducing COQ & Improving Quality
• Reduce COQ through quality improvement programs
• Tools and techniques
• System for quality is prevention
• Some results from industries
• Sustaining COQ
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Source: Best Practices in Cost Reduction Assessment, Quality Management & Assurance, Cost of Quality PowerPoint Slides: Reducing the Cost of Quality PowerPoint (PPTX) Presentation, Operational Excellence Consulting
ABOUT THE AUTHOR: OPERATIONAL EXCELLENCE CONSULTING
Operational Excellence Consulting is a leading management training and consulting firm dedicated to helping individuals and organizations improve their effectiveness and productivity in the post-pandemic new normal. Our mission is to drive lasting beneficial change by leveraging design thinking and lean management approaches.
We work with a diverse range of clients, including government bodies, multinational corporations, and small and medium-sized enterprises, across a wide spectrum of industries.
Our firm offers a comprehensive suite of capabilities, including Design Thinking, Customer Experience Management, Business Model Innovation, Lean Process Redesign, Total Quality Management (TQM), Total Productive Maintenance (TPM), Kaizen, Value Stream Improvement, Hoshin Kanri (Policy Deployment), Problem Solving Techniques & Tools (e.g. PDCA, 8D, A3, etc.), Training Within Industry (TWI), Suggestion System and Benchmarking.
To ensure the widespread adoption of operational excellence techniques and tools, we pride ourselves on developing high-quality, customizable training materials, presentations, frameworks, and templates to complement your training and business needs.
Operational Excellence Consulting has published 205 additional documents on Flevy.
This business document is categorized under the function(s): Operations Organization, Change, & HR
It applies to All Industries
File Type: PowerPoint (pptx)
File Size: 7 MB
Number of Slides: 131 (includes cover, transition, & marketing slides)
Related Topic(s): Cost Reduction Assessment Quality Management & Assurance Cost of Quality
Purchase includes lifetime product updates. After your purchase, you will receive an email to download this document.
Terms of usage (for all documents from Operational Excellence Consulting)
Initial upload date (first version): Feb 23, 2013
Most recent version published: Apr 17, 2021
|This 32-page presentation from Operational Excellence Consulting explains the Lean Management philosophy, based on the Toyota Production System (TPS). Learn to eliminate waste. To receive this free download, enter your email address below and click the "Email Me" button.|
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