Reducing the Cost of Quality with Real-Time SPC
The level of global competition faced by today’s organizations has put more pressure on the bottom line than ever before. To realize market-leading performance, executives not only have to work to achieve growth targets, they also have to continuously reduce costs in operations. In many cases, they are positively impacting operational costs by focusing on the quality of products and processes through the cost of quality metric.
The cost of quality is a metric that is being used by many organizations to benchmark performance. Unfortunately, beyond just measuring performance, many companies struggle to find concrete approaches for improving it. In this Research Spotlight we will examine how market leaders are using Statistical Process Control (SPC) to deliver real-time, role-based quality insights to shop-floor personnel and executives for driving continuous improvements in metrics.
By reading this report, industry leaders can gain an understanding of why and how organizations are leveraging SPC to reduce variability of manufacturing processes, enable proactive decision making by shop-floor personnel, and provide executive visibility with analytics. Specifically, the report will address:
- Why Quality Is Important: Benchmark Data
- Understanding the Cost of Quality Variable
- The Role of Real-time SPC in Measuring the Cost of Quality
- Optimizing Real-Time Visibility Capabilities with the LNS Research Model of Operational Excellence