How to reduce Cost of Poor Quality (COPQ)
Date : 11 to 12 February, 2021 Time : 1400 Hrs to 1700 Hrs
Location / Mode : Online
INTRODUCTION
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).
- 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
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- 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.
This Program will be conducted by Mr Subrata Mitra Majumdar
Subrata Mitra Majumdar, is a Management and Operational Excellence Consultant and a faculty of IMTMA. He is a Mechanical Engineer from Bengal Engineering College, Shibpur", Calcutta in 1986, Six sigma Master Black Belt, Lean Black Belt,TQM trained in Japan.
He has about 33 years of regional and global experience in multiple executive roles in Business management, Profit & Loss Management, Strategy, Operations, Quality ,Safety and Environment Management, Supply Chain , New Product Development, Enterprise Operating system deployment, Operational and Business Excellence.
He has worked with both Indian and MNCs like Anand Automotive, ABB, Saint Gobain, TATA Autocomp, Kennametal and YG1. Conducted training in India and outside – China,Singapore, Thailand, Malaysia, Japan, Korea, Taiwan, Australia, Israel, Germany. Trained more than 3200 people so far in last 20 years and implemented TQM, Lean Manufacturing, Six Sigma at about 40 plants,12 countries in Asia. Led, coached, mentored more than 1800 improvement projects that have generated financial benefits ( Top and Bottom line ) of more than 40 Million USD.
REGISTRATION :
Prior registration with an online advance payment is must. Number of participants is limited and will be accepted on ‘First Come First Serve’ basis. A Certificate of participation will be issued to participants.
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