1 April 2005 | BestPrax Club Pvt. Ltd.
That quality is a prerequisite and is no longer a differentiator in today’s intensely competitive business climate, is well known. However, what is not as clearly known is the fact that the cost of poor quality (COPQ) is substantial. COPQ cannot be mapped by current accounting practices and hence remains hidden. Reducing the COPQ can potentially unlock huge value, but it must be driven by the leaders. By addressing COPQ, companies can look to adding 10- 15% of the total costs to the bottom line without any capital investment.