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).