What is Inventory Management – Definition & Types of Inventory
In any business or organization, all functions are interlinked and connected to each other and are often overlapping. Some key aspects like supply chain management, logistics and inventory form the backbone of the business delivery function. Therefore these functions are extremely important to marketing managers as well as finance controllers. Inventory management is a very […]
Development of Services that Support International Business
Ecosystem of Services Any business in order to function and grow needs an ecosystem of suppliers, vendors, and infrastructure that supports the operations of the business. For instance, if a certain company wants to setup its operations in a particular place, it needs land, roads, water and power supply, and vendors and suppliers to supply […]
Contract Logistics – Key block in Supply Chain Management
Supply Chain Activities constitute multi-modal transportation, customs clearance, and warehousing activities in one or more locations in the entire network. Supply chain activities may be local referring to within the country or regional meaning within a continent or region and global which is essentially intercontinental. Global operations are the order of the day as businesses […]
What is Stratification ?
Stratification is used mostly in the define stage of a six sigma project. When to use the stratification technique is still on the decision of the people involved in the project. However fairly good cues are given by the fact that the spread of the data is too large. If the points are scattered all […]
Role of External Consultants in Business Continuity Management
In previous articles, we have discussed how risk management teams and the management can help in planning for contingencies. In this article, we look at the role that external consultants can play in formulating and shaping a company’s business continuity planning. For starters, the biggest advantage that external consultants have over in house risk management […]
“Quality management” ensures superior quality products and services. Quality of a product can be measured in terms of performance, reliability and durability. Quality is a crucial parameter which differentiates an organization from its competitors.
Quality management tools ensure changes in the systems and processes which eventually result in superior quality products and services. Quality management methods such as Total Quality management or Six Sigma have a common goal - to deliver a high quality product.
Quality management is essential to create superior quality products which not only meet but also exceed customer satisfaction. Customers need to be satisfied with your brand.
Business marketers are successful only when they emphasize on quality rather than quantity. Quality products ensure that you survive the cut throat competition with a smile.
Quality management is essential for customer satisfaction which eventually leads to customer loyalty. How do you think businesses run? Do businesses thrive only on new customers? It is important for every business to have some loyal customers. You need to have some customers who would come back to your organization no matter what.
Would you buy a Nokia mobile again if the previous handset was defective? The answer is NO.
Customers would return to your organization only if they are satisfied with your products and services. Make sure the end-user is happy with your product. Remember, a customer would be happy and satisfied only when your product meets his expectations and fulfills his needs. Understand what the customer expects from you? Find out what actually his need is? Collect relevant data which would give you more insight into customer’s needs and demands.
Customer feedbacks should be collected on a regular basis and carefully monitored. Quality management ensures high quality products and services by eliminating defects and incorporating continuous changes and improvements in the system. High quality products in turn lead to loyal and satisfied customers who bring ten new customers along with them. Do not forget that you might save some money by ignoring quality management processes but ultimately lose out on your major customers, thus incurring huge losses.
Quality management ensures that you deliver products as per promises made to the customers through various modes of promotions. Quality management tools help an organization to design and create a product which the customer actually wants and desires.
Quality Management ensures increased revenues and higher productivity for the organization. Remember, if an organization is earning, employees are also earning. Employees are frustrated only when their salaries or other payments are not released on time. Yes, money is a strong motivating factor. Would you feel like working if your organization does not give you salary on time? Ask yourself. Salaries are released on time only when there is free cash flow.
Implementing Quality management tools ensure high customer loyalty, thus better business, increased cash flow, satisfied employees, healthy workplace and so on. Quality management processes make the organization a better place to work.
Remove unnecessary processes which merely waste employee’s time and do not contribute much to the organization’s productivity. Quality management enables employees to deliver more work in less time.
Quality management helps organizations to reduce waste and inventory. It enables employees to work closely with suppliers and incorporate “Just in Time” Philosophy.
Quality management ensures close coordination between employees of an organization. It inculcates a strong feeling of team work in the employees.
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The PDSA (Plan-Do-Study-Act) Technique for Quality Improvement
February 12, 2025
