CA Final Costing Revision: Cost of Quality, TQM & Six Sigma 📘

CA Final Costing | Cost of Quality, Total Quality Management & Six Sigma(Revision)-English Language <br />In this Class, we will discuss the COST OF QUALITY i.e developing Product and Services that satisfy/ delight the customer. <br />COST OF QUALITY consists of 2 things- <br />1. Cost of Good Quality- Prevention Costs and Appraisal Costs <br />2. Cost of Poor Quality- Internal Failure Cost and External Failure Cost. <br />6 C's of TQM- Control, Commitment, Culture, Continuous Improvement, Cooperation, Customer Focus. <br />Deming's Philosophy- 14 points methodology discussed in detail in video- <br />- Create constancy of purpose towards improvement; <br />- Adopt the new philosophy; <br />- Cease Dependence on Inspection; <br />- Move towards a single supplier for any 1 item.; <br />- Continuous Improvement; <br />- Institute Training on the job; <br />-Institute Leadership; <br />- Drive out Fear; <br />- Break down barriers between departments; <br />- Eliminate Slogans; <br />- Eliminate management by Objectives; <br />- Remove barriers to pride of workmanship; <br />- Institute Education & self improvement; <br />- Transformation is everyone's job. <br />To implement TQM, we need to understand PDCA i.e Plan, Do, Check, Act, and this process has to be continuous for the improvement. <br />Lastly, we discussed 6 sigma- These are the set of techniques and tools for process improvement. <br />There are 2 methodologies for the same- <br />DMAIC(Define, Measure, Analyse, Improve, Control) <br />DMADV(Define, Measure, Analyse, Design, Verify) <br /> <br />Did you like our video? Give it a Thumbs-up! <br />Subscribe to our channel and Share this Video if you like it!