Benefits from Quality Efforts
The benefit obtained from quality is creation of more efficient and effective operations. It helps to increase the customer satisfaction and their retention. Quality also results in producing defect free products which reduces cost. It helps to enhance marketing and improve the employee motivation, awareness and morale. It helps promote international trade, increase the production and the profit by reducing the waste.
A quality project and product will yield greater customer satisfaction. If the requirements and expectations of the customers are met, there are two-fold benefits - loyal customers and better brand image. This results in an increase in the customer database and hence a greater market share. The satisfied customer may perceive greater value than the originally anticipated one which will go beyond just customer satisfaction- it would delight the customer.
The reduced costs will help in obtaining a benefit. The quality processes can reduce the waste, improve the efficiency, and improve the supplies and all other things which mean that the project may cost less than planned. As the costs go down the profits might go up depending on the pricing arrangement in the contract, on which the project is based or the reduced costs might mean more sales to the existing customer within the existing profit margins.
The cost of the quality measurement system is the decision support system in the organisation to assist the management in initiating and supporting the significant improvement for the organisation.
The system will also allow the managers to view the components of the total cost, and the ratio of the cost to the value of products. This is vital for recognising the areas for improvement and the value addition for customers. Aim of the cost quality measurement is to make sure the prevention of any kind of the defects in the process of manufacturing and operations.
Better the products, better the project performance, and the lower costs will translate directly into the increased competitiveness in the ever-more-global marketplace. The essence of the quality is to improve the quality, reduce the costs, improve the productivity, capture the market, stay in the business and give more jobs.