Cost-of-quality reporting: how we see it

Article Abstract:

Sola Optical USA Inc has successfully developed a new cost-of-quality (COQ) reporting technique designed to minimize failures in business operations. The new approach, activity-based COQ report, resulted from the implementation of world-class manufacturing concepts such as total quality management, just-in-time manufacturing, quality function deployment and activity-based costing. Activity-based COQ reporting involves determining cost and service problem areas, identifying the problems that need urgent attention, identifying and calculating ripple costs, making a list of urgent problems that need to be included in the report, condensing usable information for presentation, examining the report with managers, publishing and presenting report to employees, and improving report.

Plastics products, not elsewhere classified, Pressed and blown glass, not elsewhere classified, Accounting and auditing, Quality control, Business reports, Costs, Industrial, Industrial costs, Sola Optical U.S.A. Inc.

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Activity-based management

Article Abstract:

Activity-based management (ABM) is a strategy that employs activity-based costing (ABC) to attain sustained improvement in business operations. ABC involves the use of precise and current information in determining effective production strategies, enhancing product design and making operating activities cost- and time-effective. The two main purposes of ABM is to give customers more value for their money and to increase corporate profits through improved customer service. In summary, ABM is managing to satisfy customer wants in a way that is also profitable for the company.

Cover Story, Production management, Industrial management

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