Essay On Cost Of Quality
Definition
Cost of quality refers to the total of costs that are incurred in an effort to ensure that products of a company comply with the required standards or satisfy the needs of the customer. It also refers to the costs incurred as a result of products failing to comply with the laid down standards. The later cost is known as the cost of poor quality. Thus if a poor quality product or service is offered by a company and the company loses clients as a result, the reduced revenue and reputation is part of cost of quality just as much as the cost of installing a new factory with which high quality products may be manufactured. Cost of quality is also referred to as the cost of doing things right.
Literature Review
Cost of quality as it stands today doesn’t have a single broad definition (Machowski and Dale, 1998). Dale and Plunkett (1995) the concept of cost of quality has culminated in the acceptance of cost incurred in design and implementation, operation and maintenance of the systems put in place for the management of quality in an organization, the amounts set aside for the continuous improvement as well as the losses incurred as a result of service failures and general inadequacies of the system in place. In a nutshell, cost of quality alludes to all costs incurred in the
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This argument, however, is occasioned by the assumption that matters to do with cost of quality only arise when there has been defects in a product. It ignores the fact that right from product design, the issue of quality required for the product is always assumed to be a part of the whole equation. While considering the argument from both sides of the divide, it can be concluded that cost of quality is still relevant today after being researched better and being
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