Cost of poor quality
Cost of poor quality (COPQ) or poor quality costs (PQC), are costs that would disappear if systems, processes, and products were perfect.
COPQ was popularized by IBM quality expert H. James Harrington in his 1987 book Poor Quality Costs. COPQ is a refinement of the concept of quality costs. In the 1960s, IBM undertook an effort to study its own quality costs and tailored the concept for its own use. While Feigenbaum's term "quality costs" is technically accurate, it's easy for the uninitiated to jump to the conclusion that better quality products cost more to produce. Harrington adopted the name "poor quality costs" to emphasize the belief that investment in detection and prevention of product failures is more than offset by the savings in reductions in product failures.
Harrington decomposes COPQ into the following elements:
Examples
White collar COPQ
Harrington noted that expanding cost analyses to management and clerical workers could also make a significant dent in waste. He defined the following costs by functional area:
Cost (disambiguation)
Cost is the value of money that has been used to produce something and is therefore no longer available.
It can also refer to:
Economics
- Opportunity cost, the cost of something measured by the inability to spend the money elsewhere
- Historical cost, also known as accounting cost, the original value of an economic item
- Variable cost, costs of doing business that increase or decrease with the amount of revenue, such as labor and fuel
- Fixed cost, costs of doing business that do not change, such as rent and administration
- Average cost, the total cost of production divided by the number of items produced
- Marginal cost, the decrease in costs resulting from producing more items
- Cost curve, a graph of cost of production over number of items produced
The Cost (album)
The Cost is the sixth studio album by The Frames, released in Ireland on Plateau Records on 20 September 2006. The album was released worldwide on ANTI- on 20 February 2007. The album exhibits a sound more like that of For the Birds than their more recent album Burn the Maps. The Frames' line-up for The Cost features Glen Hansard on guitar and vocals, Colm Mac Con Iomaire on violin and keyboards, Joseph Doyle on bass guitar and backing vocals, Rob Bochnik on lead guitar and Graham Hopkins who played drums in place of the Frames' regular drummer Johnny Boyle. It was recorded in Black Box, France by Stephen Fitzmaurice and David Odlum with assistance from Fabian Lesure. The front and back covers feature photography by frontman Hansard of oak leaves, accompanied by a handwritten inscription reading: "Ni identitat permanent, ni idea de persona, ni d'ésser vivent, ni d'un temps d'existència" (which is Catalan for "Nor permanent identity, nor idea of a person, nor of being alive, nor of a time of existence", from a work of Antoni Tàpies). The album is enigmatically dedicated to "Multi (the ghost)".
The Cost (film)
The Cost is a 1920 American silent drama film directed by Harley Knoles and written by Clara Beranger and David Graham Phillips. The film stars Violet Heming, Edwin Mordant, Jane Jennings, Ralph Kellard, Edward Arnold, and Clifford Grey. The film was released on April 11, 1920, by Paramount Pictures.
Cast
References
External links
Podcasts:
The Poor
Get up off your ass,
Or don’t say a thing.
You complain, no one cares.
Stop whining.
No money, no food,
No shirt on your back.
Depressed all the time.
What do you expect?
Blame someone else,
The poor get poorer.
Neglect humanity.
Angry you are at the world,
Make them pay for your mistakes.
Pride you’ve lost inside yourself,
It doesn’t matter who you burn.
Need cash, need goods,
Need clothes on my back.
Need gold, need diamonds,
Need your fancy car.
I must have that.
Steal from someone else,
Earn your pay.
Why work for it,
I’ll take it from you,