Raising the Bar

Abstract:Companies seeking to expand their global reach face a dual challenge created by the rising cost of development and the need to keep prices down in a demanding global market. Good leaders meet this challenge by measuring the benefits of quality as opposed to the cost of business failure so that these costs can be managed systematically. Total quality management (TQM) provides a systematic foundation allowing companies to manage costs and turn them into a competitive advantage. The management and measurement of the economics of quality set companies apart in terms of market strength and …

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Great written article with concise and relevant examples. Clearly, organisations need to understand these concepts and begin to increase their Preventive cost to invariably reduce the Internal failure costs.
--Monica Nwosu, 07-08-2012

In my opinion, cost of quality has become a major concern with reducing profit margin, and growing competitive forces. Mere existence of quality processes is being challenged. Instead, quality is sounght in every process. We must find a breakthrough approach to addressing quality problems by having a quality department with professionals who create value for their organization, rather than ensure performance. Some fundamental changes must be made in the way we manage quality.
--Praveen Gupta, 08-18-2008

Dr. Feigenbaum's article, as always, is a top hit. It's clear and express' his belief on quality and cost relationship. It is always a pleasure to read his approach. Please tryto get him to publish more in QP.
--dr. Gabor Aschner, 08-06-2008

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