The “cost of quality†isn’t the price of creating a quality product or
service. It’s the cost of NOT creating a quality product or service. The
pursuit of total quality will cause a company to incur costs – the costs of
quality. There are two types of cost of quality – costs to control quality and
the costs incurred from failure to control quality. Costs to control quality
include preventative and appraisal costs designed to stop defects before they
happen and to evaluate operations. In comparison, costs incurred from failure
to control quality are costs that are incurred after the fact. The best way to
improve quality is to focus on prevention. The cost of quality is one of the
total quality management (TQM) tools. The cost of quality management system acts
as the most appropriate method for “measuringâ€, “monitoringâ€, “controlling†and
“decision making†activities in a firm which aims at “business excellence†and
also specifies the “non-value added†costs. Cost of quality (COQ) is defined as
a methodology that allows an organization to determine the extent to which its
resources are used for activities that prevent poor quality, that appraise the
quality of the organization's products or services, and that result from
internal and external failures.
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276. 13485
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