Since its inception on Sept. 30, 1998, the performance of the Quality Progress Q-100 has outpaced that of its benchmark, the Standard & Poor's (S&P) 500. A $10,000 investment in the stocks of the Q-100 on that date would have been worth $11,122 on June 30, 2002, compared to $10,212 for the stocks in the S&P 500.
Robinson Capital Management, a Minnesota money management firm, created the fictional index to systematically identify and track the performance of quality companies.
"One of the interesting things about a new index involves comparing your theory with actual events," said Craig Robinson, president. "We've been through a strong upswing in the market followed by a strong downswing since the Q-100's inception, and the index continues to significantly outperform the S&P. If quality companies are as efficient as we believe them to be, these companies should be leaders when the market rebounds."
Although the Q-100 slightly underperformed the S&P for the second quarter of 2002, it lost 2.5% less over the previous 12 months. The only three stocks in the Q-100 to show gains in the second quarter were Aetna (+24%), Lockheed Martin (+17.6%) and Union Pacific (+4.1%).
Questions about the Q-100 can be directed to Robinson at 800-577-9217.
ANSI Offers Training For Auditors of Certifiers
The American National Standards Institute (ANSI) recently held the initial training session for auditors of its accreditation program for personnel certifiers.
The management system lead auditor course was developed in collaboration with Excel Partnership Inc. to prepare auditors to evaluate personnel certification bodies against the requirements of the International Organization for Standardization/International Electrotechnical Commission Draft International Standard 17024.
Course content includes an overview of the audit process and its requirements, the substance of the standard and its relationship to ISO 9001:2000, quality management system requirements, audits and the content and structure of a documented management system.
For additional information, contact Roy Swift at 202-331-3617 or firstname.lastname@example.org.
ISO Revises ISO 9001 Advice For Small Manufacturers
The International Organization for Standardization, known as ISO, has revised its handbook advising small and mid-sized organizations on implementing ISO 9000 based quality management systems.
ISO 9001 for Small Businesses now aligns the advice with the revised ISO 9001:2000. It is available from ISO (email@example.com) or from ISO's national member institutes, including the American National Standards Institute (www.ansi.org) and the Standards Council of Canada (www.scc.ca).
The handbook is a joint publication of ISO and the International Trade
IHI Announces Four New Collaborative Projects
The Institute for Healthcare Improvement (IHI) recently announced four new public collaborative projects.
Improving Critical Care, Improving Flow Through Acute Care Settings and Improving Patient Safety will begin this fall; Achieving Workforce Excellence will start in the winter.
In addition, IHI is currently collaborating with the Commonwealth Fund on a project to build evidence illustrating the current relationships--favorable and unfavorable--between business imperatives and quality of care.
IHI says the goal is to build a baseline of evidence in the form of seven case studies and use that evidence to drive policy changes that will enhance the healthcare system's ability to encourage and sustain quality improvement efforts.
NIST Study Compares Baldrige, ISO 9000 and Six Sigma
The National Institute of Standards and Technology (NIST) has published a new issue sheet, primarily for CEOs, that explores three major quality systems.
The study says all three are performance improvement tools that can be complementary, but each offers a different emphasis:
- The Baldrige Criteria for Performance Excellence focuses on an entire organization in an overall management framework and identifies and tracks all important organizational results, such as customer product and service, financial, human resource and organizational effectiveness.
- ISO 9001:2000 concentrates on fixing quality system defects and product and service nonconformities.
- Six Sigma emphasizes measuring product quality and improving process engineering and drives process improvement and cost savings.
"Baldrige, Six Sigma & ISO: Understanding Your Options" explores all three systems and is available at www.quality.nist.gov/Issue_Sheet_Options.htm or by calling 301-975-2036.
Statistical methods handbook
NIST and International SEMATECH are introducing the new e-Handbook of Statistical Methods. SEMATECH is a worldwide consortium of major semiconductor companies.
The handbook expands and updates Experimental Statistics, originally
published in 1963. It is offered only in electronic format at www.nist.gov/stat.handbook
and is expected to be available on CD this month. Graphics and a search
capability are featured.
Competitive Council, National Governors To Cooperate on Economic Strategies
The National Governors Association (NGA) and the Council on Competitiveness have agreed to work together to help state governors develop economic strategies for a global marketplace.
The NGA and the council previously co-sponsored a national conference
and co-hosted two economic development forums. NGA is also a sponsor,
with Carnegie Mellon University, of the council's upcoming National Symposium
on Competitiveness and Security Oct. 8-9 in Pittsburgh.
Study Says Organizations Increase Online Purchasing
A recent survey of supply management executives indicates an increase in online purchasing by both manufacturing and nonmanufacturing organizations.
The seventh Report on eBusiness from the Institute for Supply Management and Forrester Research Inc. says nearly 65% of companies purchased direct materials (goods and services that go into final manufactured products) online in 2002's second quarter, compared to 53% in the first quarter. Indirect material purchases (don't go into final manufactured products) rose from 78% in the first quarter to 84% in the second quarter.
Other findings include:
- More nonmanufacturers than manufacturers used the Internet in purchasing activities.
- One-third of large buyers bought goods or services via the Internet.
- Almost one-third of buyers used an enterprise procurement tool that incorporates the Internet.
- For the first time, more than half of responding companies reported collaborating with suppliers online.
- Satisfaction with suppliers' online capabilities increased.
The full report can be found at www.ism.ws/ismreport/forrester/FROB072002.cfm.
HOSPITAL CARE DATA. The U.S. Agency for Healthcare Research and Quality has added hospital care data for 2000 to its Web site. The data enable users to compare statistics on inpatient care for the nation as a whole, regions and specific states. The HCUPnet site at www.ahcpr.gov also contains trend data for 1993 to 2000.
NEW HEALTHCARE REPORT. The National Quality Forum has released its consensus report, A National Framework for Healthcare Quality Measurement and Reporting. For information or to order copies of the report, go to www.qualityforum.org.
SUSTAINABILITY REPORTS. Results of a recent KPMG survey of Fortune global top 250 companies indicate 45% are now issuing environmental, social or sustainability reports in addition to their financial ones. Many are publishing these reports and having them independently verified. Japan has the highest percentage--72%.