Articles Tagged with ''cost of quality''

Embedded quality can enhance manufacturing strategies amid ongoing product failures and recalls. Discover why delivered quality is key to your organization’s success.

Discover how a mid-sized business can save $100,000 to $300,000 annually with Lean ISO management system documents. You might be surprised by the training costs for a company with 500 employees!

Rework and product returns are common issues in manufacturing that can impact efficiency and customer trust. By implementing structured rework management with clear workflows and data-driven insights, manufacturers can turn these challenges into opportunities for improved quality and stronger customer relationships.

AI-powered predictive maintenance helps anticipate machine failures, allowing for proactive action that saves time and costs. According to a Deloitte study, 86% of manufacturing executives believe that AI and intelligent technologies will enhance competitiveness in the next five years.

Standard work is vital for improving safety, efficiency, and quality by establishing the best way to perform tasks consistently. By documenting and implementing these processes, organizations foster a culture of continuous improvement, empowering employees and driving cost savings.

Are you throwing away a significant portion of your budget without realizing it? How often do engineers, scientists, and analysts regenerate knowledge work—solving problems or similar problems that have already been solved?

This article shows how to make leadership aware of all costs and not just the tangible ones. It helps quality professionals to quantify the Total Cost of Quality and derive a compelling business case from that quantification.

Quality is a critical competitive priority for organizations. It is the foundation for a competitive advantage, even when firms prioritize other operational considerations. However, it is often de-prioritized during financial stress, leading to financial, customer, and workforce issues.

According to MasterControl’s 2022 Digital Quality Maturity Study conducted by Cicero research, the majority of quality organizations are going digital, have plans to go digital within the next five years, or believe this is where they need to go to achieve compliance and remain competitive.

Calculating the true cost of quality becomes faster and simpler with an ERP system that does it for you. This requires a system that includes four essential capabilities.