Online Training on How to reduce Cost of Poor Quality (COPQ)

Focus Areas

• Evolution of Quality Management, concept and purpose
• Measurement of COPQ and how it impacts Profit & Loss statement and Balance sheet
• Hidden Quality costs
• Cost of Lost Opportunity
• Difference between Cost Reduction and Cost Excellence
• How reduction of Cost of Poor Quality can multifold improve Top line and Bottom line, improve Cash flow, increase and retain market share of an organization
• Identify areas of Improvement opportunities, right projects & investments from ‘COPQ’ Data
• Best practices, tools in brief to reduce, eliminate, prevent poor quality and reduce cost – Effective New Product Development, QFD ( Quality Function Deployment), FMEA ( Failure Mode & Effect Analysis ), Stable and Capable Process, Control Plan, Problem solving Tools, Poka-yoke ( Mistake Proofing ), Skill Matrix
• Deployment steps and journey forward

Background

Cost of Poor Quality can make an organization lose 25% to 35% of sales amount due to variety of reasons like warranty, compliant servicing, scraps, redesign, resources and capacity loss due to rework and reprocessing, free replacement delivery, loss of management time, loss of orders, loss of interest in delayed payments and loss of customers. Cost is inversely proportional to Poor Quality. A quality complaint can lead to multiple ripple effects that can impact 10 X or more than just the replacement cost due to above reasons.
Hence, it is the responsibility for all professionals in every organization to identify, measure, analyse, reduce and prevent poor quality from being generated in every process and activity to contribute in reducing cost and ensure profitability. It is all the more imperative today when many organizations are struggling for profitability and Government of India is prioritizing ‘Make in India’ for both local consumptions and global supplies.
Keeping this in view, Indian Machine Tool Manufacturers' Association (IMTMA) is organizing an online training on How to reduce Cost of Poor Quality (COPQ).

Key Takeaways

• Develop COPQ ( Cost of Poor Quality ) model in his / her organization
• Learn components of Cost of Poor Quality and how to collect data and measure them
• Lean various best practices to control processes and reduce COPQ
• Relate defects to cost and how it impacts profitability
• Use the training materials and various examples as reference and implement the tools, practices to reduce and prevent generation of poor quality.

Enquire About This Programme