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Identify Cost of Poor Quality to Improve the Bottom Line (MFGD18B)

Presented by: William A. Levinson, P.E.
 
(*) Single User Price. For multiple users please call 1-800-223-8720
Live Webinar
60 minutes
Event Description

Minimize Poor Quality Cost to Turbocharge Your Business Performance

Benjamin Franklin, who originated many ideas we now recognize in lean manufacturing, wrote that "a penny saved is two pence clear." Similarly, the AIAG’s CQI-22: Cost of Poor Quality Guide shows that it is far more profitable to eliminate waste (muda) than to increase revenues. The same reference adds that the cost of poor quality is often 25% to 35% of a typical operating budget. If you learn how to recognize all these wastes, you can improve your bottom line without additional sales—although cost reductions and quality improvements will probably grow your sales as well.

Learn how to turbocharge business performance in this webinar presented by industry expert William Levinson. Levinson will show you how to expose the cost of poor quality as discussed in CQI-22 and other authoritative references. You will learn about hidden plants—resources that exist solely to address the consequences of poor quality rather than prevent it—and the hidden costs of other forms of waste (muda) that are asymptomatic (without symptoms) because they do not generate rework, scrap, or customer complaints. You will recognize how Benjamin Franklin's simple-but-powerful principle applies to the cost of poor quality: that it is far easier to extract profit from waste than from increased revenue, and share it with workers (through higher wages), and with customers (through lower prices).

Levinson will show you how to identify other types of wastes that are ordinarily invisible to the cost accounting system and therefore asymptomatic, such as the Toyota Production System (TPS) wastes. One of Henry Ford's key success secrets was his ability to recognize waste that everybody else took for granted, and to teach this skill to his workforce. This webinar will show you how to do the same in your workplace.

You’ll also learn why most organizations – including possibly yours – may be tolerating the cost of poor quality and other forms of waste:because you may not even recognize they are there! Levinson will explain the principles for containing the costs of poor quality, along with examples – such as of a poorly-designed job that wasted 64% of the labor for thousands of years until the early 20th century: it produced no scrap or rework, but resulted in lower wages, lower profits, and higher costs for customers.

After attending this session, you’ll know how to recognize, quantify, and minimize the cost of poor quality and other forms of waste, thereby improving your bottom line without any additional sales.

Session Highlights

This session will show you how:

  • Benjamin Franklin's principle applies to the cost of poor quality and to the other six TPS wastes as well.
  • CQI-22 reinforces the importance of the modern Ford Motor Company's principle that it is cheapest to fix a problem at its point of origin rather than later in the process, let alone when it reaches a customer.
  • Most forms of muda (waste) are asymptomatic; they do nothing to announce their presence.
  • Resources whose purpose is to mollify disgruntled customers are a hidden plant.
  • Friction (apparently minor troubles with cumulative effect) can undermine your organization’s performance and prevent it from achieving its goals.
  • To quantify the cost of poor quality using techniques from CQI-22.
  • Henry Ford's four key performance indicators (KPIs) can help identify the following forms of waste:
    • Waste of the time of things (cycle time)
    • Waste of the time of people (motion inefficiency, poor ergonomics)
    • Waste of materials—anything that is thrown away or even recycled rather than becoming saleable product. Supports ISO 14001
    • Waste of energy; supports ISO 50001

Who Should Attend

  • Quality managers
  • Quality engineers
  • Manufacturing engineers
  • Production managers
  • Lean manufacturing professionals
  • Executives
  • CEOs
  • Persons with profit and loss responsibility

At the Q&A session following the live event, ask a question and get a direct response from our expert speaker.

About Our Speaker(s)

William A. Levinson | Quality and Productivity Management SpeakerWilliam A. Levinson P.E.
William A. Levinson, P.E., is the principal of Levinson Productivity Systems, P.C. He is an ASQ Fellow, Certified Quality Engineer, Quality Auditor, Quality Manager, Reliability Engineer, and Six Sigma Black Belt. He is also the author of several books on quality, productivity, and management, of which the most recent ... More info

 
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    Subject: You might be interested in this event from AudioSolutionz
    Event Title: Identify Cost of Poor Quality to Improve the Bottom Line
    Presenter(s): William A. Levinson, P.E.

 
 
 
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