How to measure the cost of quality in line with ISO 9001 principles
In ISO 9001 Certification in Philippines If your company has an operational QMS (Quality Management System), whether they are authorized against the ISO 9001:2015 standard or not, you likely have several KPIs (key performance indicators) that follow how you are functioning concerning quality. While these may be specific to your sector or the organization you operate in, do your KPIs truly that will throw back the financial cost to the organization – when poor quality may fetch your company money – even beyond the dimensions of the KPIs already measured? Cost of quality – Why? The cost of quality can be said to be the statement of expenses and time arise by a business external of pre-defined process actions, which need to be under control to recover, improve or preserve the quality of a service or product. If you consider your organization, many objectives within your QMS will be very simple to define: a manufacturing company might measure “first pass yield” as a cr...