The purpose of any industry framework is to guide organizations in establishing, documenting, and maintaining an effective and economic quality management system. This demonstrates to the customers the commitment to quality and ability to supply the customers’ quality needs with improved productivity savings. In every organization, rework is waste, and across vertical and horizontal business functions, the true cost of quality is often lost. A cost of quality (CoQ) approach looks at processes and events in both a preventive and corrective environment and derives a cost that can be analyzed in the context of the business cycle. The objective of a CoQ approach is to capture the total value of poor quality in the organization and provide a method that justifies the elimination of that poor quality. Understanding the true cost of quality in an organization adds value to the business processes, which in turn, increases its business. This white paper uses 10 “process commandments” as guiding principles and cost of quality as a metric to derive productivity improvements and present a view on how a process framework was deployed in a large financial and insurance organization.

Contributors: Tata Consultancy Services
Categories: Whitepaper
SRC Type: Contract Development, Performance Management, Sourcing, Sourcing Management