Most of us are familiar with the concept of the cost of poor quality (CoPQ). It is typically defined as the sum of both internal failure and external failure costs. But the reality is that we should be measuring our total cost of quality (TCoQ), which is the sum of internal and external failures, as well as the cost of appraisal and prevention activities.
Virtually every quality leader regardless of industry or company size strives to have a firm grasp on their organization's total cost of quality. But, the reality is that TCoQ is not an easy thing to measure. That's in large part because three quarters of the TCoQ comes from outside of the quality department.
In this video, I explain five ways quality teams can reach beyond their department to get a better handle of TCoQ and help decrease costs and increase profitability.
To learn more, download our whitepaper: How Quality Can Drive Company-Wide Operational Efficiency