Cost of Poor Quality | How can affect your business скачать в хорошем качестве

Cost of Poor Quality | How can affect your business

The cost of low quality has many aspects to take into account. In this video, I will show the multiple impacts that the cost of low quality can have on business. 📹 Related Video ▶ What is quality    • What is Quality | Quality Definition   ▶ 7 Quality Tools    • What Are the 7 Quality Tools for Quality C...   ✏️Here is the transcript of the video The cost of poor quality. As businesses grow, they often focus on increasing production, expanding their market, and improving their products. But, what they often overlook is the cost of poor quality. Poor quality products can lead to a number of issues, including customer dissatisfaction, increased production costs, decreased sales, and even legal problems. 1️⃣ Dissatisfaction Let's start with customer dissatisfaction. When customers receive a poor quality product, they are likely to be unhappy and may not return to purchase from your business again. This can result in a significant loss of sales and damage to your brand's reputation. 2️⃣ Rework Increased production costs are another problem that can arise from poor quality products. When you have to constantly rework or replace faulty products, it increases your overall production costs. This can cut into your profit margins and make it more difficult for you to stay competitive in the market. 3️⃣ Legal Problems In some cases, poor-quality products can even result in legal problems. For example, if your product is dangerous or faulty, you could face lawsuits or penalties that can be very costly. ▶ How to avoid cost of poor quality ? So, what can you do to avoid the cost of poor quality? The first step is to invest in quality control processes. This means checking each product before it leaves your factory and ensuring that it meets the standards you have set. It may also be necessary to invest in better equipment or materials to ensure that you are producing the best possible products. Another important step is to listen to your customers. If you receive feedback about a particular problem with your product, take the time to investigate and address it. This not only helps you to improve your products, but it also shows your customers that you value their opinions and are committed to providing them with the best possible products. ▶ Conclusions In conclusion, the cost of poor quality can be significant, but it is also avoidable. By investing in quality control processes, listening to your customers, and continuously improving your products, you can avoid the cost of poor quality and build a successful and profitable business. ツ CONNECT WITH ME ツ Hi, my name is Mark Anderson a 20+ year Lean Expert. I have created LeanVlog because I want to spread Lean Thinking worldwide and I think the video is the most effective way to teach, learn, and spread knowledge. If you want to stay in touch with me you can choose the channel you prefer. A) Linkedin   / mark-anderson-leanvlog   B) Latest Videos and Playlist Website: https://www.leanvlog.com C) Telegram https://t.me/leanvlog #quality #qualityimprovement