Press Release
Reduce quality-related costs
New technologies, new markets, new generations of employees. The business world is characterized by high volatility. Reducing costs while maintaining the same level of quality remains one of the major challenges.
The COVID-19 pandemic has hit many companies hard. While there are positive developments regarding infection rates and vaccination numbers, the economy is still struggling significantly with the pandemic’s effects. The ways in which companies have responded to the crisis—and continue to do so—vary widely. A flash survey conducted by the German Chamber of Industry and Commerce in November 2020 shows that, in addition to postponing investments and prioritizing digitalization initiatives, identifying opportunities for cost savings is also a key priority for companies.
In ourarticle in the project magazine, we would like to focus on these potential savings. We highlight the optimization potential available to companies in the areas of quality management and quality-related costs. Our article is structured as follows: First, we address the concept of quality-related costs and explain what it entails. Next, we examine the challenges and opportunities that can arise from reducing quality-related costs. We then describe the three steps for successfully reducing quality-related costs:
Step 1:Identification and analysis of quality-related costs,
Step 2:Determination of areas requiring action and identification of causes, and
Step 3:Derivation, evaluation, and prioritization of (quality) measures.
To wrap things up, we’ve put together a checklist for managing quality-related costs. Clickhereto read the article.
