ABOUT THE COURSE
Cost is a key factor that drives an organisation’s competitiveness. It is crucial for companies to manage their operations efficiently and minimise costs. Organisations must look into ways to implement quality improvement and cost reduction programs in order to sustain business success at all times be it during down turns or during market growth. The primary objective of measuring Cost of Quality (COQ) is to quantify the financial impact of quality at every stage of operations from start to end. Implementing a COQ system would enable organisations to link their quality improvement efforts to cost reduction
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WHAT WILL YOU LEARN FROM THE COURSE?
At the end of this course, participants will be able to:
- Identify major cost components related to the Cost Of Non-Conformance (CONC) and Cost Of Conformance (COC)
- Acquire skills to identify and collect cost and COQ information
- Analyse the COQ information and relate the data to performance metrics
- Implement COQ to reduce costs
Topics to be covered in this course include:
- Cost of quality
- Quality and conformance
- The consequences of non-conformance
- Components of COQ
- Quality measures
- The cost of poor quality
- Internal and external failure
- The cost of achieving good quality
- Prevention and appraisal costs
- The 7 Wastes
- COQ and financial analysis
- Collecting COQ data
- Quality costs and quality indices
- Computing COQ
- 4 methods of quality costing
WHAT IS THE COURSE METHODOLOGY?
Various interactive activities, group discussions, class exercise and case studies are used to enable participants to learn the concepts, tools and techniques.
WHO SHOULD TAKE THE COURSE?
This course is specially designed for:
- Managers, supervisors and executives who are interested and/or involved in the implementation and management of the Cost of Quality process in their organizations
WHO IS THE COURSE ADVISOR?
The course content and structure are designed by the domain experts from TÜV SÜD.
With immense experience and knowledge in the relevant standards, our team of product specialists and technical experts at TÜV SÜD, developed the course content based on current business landscape and market requirements.
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