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Quality has been defined as "the totality of characteristics of an entity that bear on its ability to satisfy stated and implied needs". A quality management system aims at quality control mechanism at every stage of a manufacturing or service system and not just the quality of the end product. In today's globalised world, marking and quality certification of goods has become very important. Therefore, delivering quality products and services that match international standards is a necessity for a successful business organisation. This requires setting up of a sound quality management system which helps the firm in producing such products that satisfy all consumers. Production of quality goods helps in boosting exports and inducting growth of both the firm as well as of the country. A good certified quality management system provides the following benefits to a firm:-
- It clearly indicates the firm's capabilities and provides a strong evidence of its commitment to quality.
- It assures consistency in quality of product/service.
- It reduces the incidence of product failure which in-turn improves the credibility of the firm.
- Due to increase in quality know-how and efficiency, it leads to less material wastage, production down time, rework,etc.
- If internationally recognised, the firm's quality products will have world-wide acceptance.
- It helps in monitoring the firm's supplies.
- It motivates all employees and ensures their involvement.
- It is also beneficial to the customers of the firm because:-
- It provides them assurance and satisfaction of quality.
- It saves their time and money by reducing the need for assessment of their suppliers of goods.
- It simplifies their purchase decisions.
- It instills their confidence in their suppliers of goods.
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