This study outlines a method employing the concept of quality cost in Strategic Cost Management (SCM). The authors use appraisal, failure, and preventive (AFP) actions to implement SCM as part of their initial analysis of the organizations' internal value chains. The study goes on to relate AFP actions and costs of quality to identify the study's scope. Researchers looked … [Read more...] about A conceptual framework of quality cost chain in strategic cost management
cost of quality
Are Supply Chains Too Lean?
Supply chains everywhere have become too lean — and not just in auto. This trend was highlighted by pandemic-driven shortages in virtually everything – drugs, medical equipment, construction supplies, even toilet paper. The chip shortage alone is projected to impact global automotive sales by 1.3 million units in 2022.The issues behind these shortages show no signs of abating. … [Read more...] about Are Supply Chains Too Lean?
Improving Quality, Decreasing Costs
Digital transformation initiatives that aim at getting manufacturers to Industry 4.0 have been around a while and will assuredly continue to be with us for quite a while longer. But what can often get lost by manufacturers in the push to digital transformation are the reasons why one would want to undertake this journey in the first place, which in turn should all boil down to … [Read more...] about Improving Quality, Decreasing Costs
Spending is Back: The 21st Annual Quality Spending Survey
It’s time to invest.According to our 21st Annual Quality Spending Survey, respondents are interested in purchasing new equipment, software and services now.Last year at this time, respondents were worried about family members contracting COVID-19 as well as about the current economy. Those fears have declined this year.While respondents plan to invest similar amounts across the … [Read more...] about Spending is Back: The 21st Annual Quality Spending Survey