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 a 2 day programme on "Cost of Quality and how to reduce Cost of Poor Quality" on 25 and 26 February 2020 at Bangalore. 

• Evolution of Quality Management, concept and purpose
• Cost categories with elements
• Measurement of COQ 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, right investments from ‘Cost of Quality’ Data
• Best practices and tools to reduce / eliminate / prevent poor quality and reduce cost
  • Effective New Product Development
  • QFD (Quality Function Deployment)
  • FMEA (Failure Mode and Effect Analysis)
  • Stable and Capable Process
  • MSA (Measurement System Analysis)
  • Control Plan
  • Problem solving Tools
  • Poka-yoke (Mistake Proofing)
  • Skill Matrix
• Deployment steps and journey forward

After undergoing the programme, the participants will be able to -

• Develop COQ ( Cost of Quality ) model in his / her organization
• Learn various components of Cost of Quality and how to collect data and measure them
• Learn various best practices to control processes and reduce defects, errors
• 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