CA Final Costing | Revise Cost of Quality, TQM & Six Sigma (In English)

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