Report
Description
Report Description
Competitive environment around the globe makes manufacturer to produce a high quality
product in affordable cost. With regulatory standards of agencies like FDA and ISO quality
management has become an important business. Business marketers become successful only
when they produce quality of product rather than quantity. It is a task of managing a product or
service in most efficient manner thereby winning the customers loyalty repeatedly, helping
business and organization to raise their productivity. Quality is a critical parameter which makes a
distinction from competitors. It establishes changes in systems and processes helpful for superior
quality and services. Some of the features of quality management includes inventory inspections,
advanced quality process planning, and statistical process control cost of quality, audit trails,
customer and material supplier analysis. Various quality management models and system makes
easier for any type of company to handle its quality issue efficiently. Total Quality Management
(TQM) or six sigma have intent of producing high grade products by reducing defects in processes
or systems. The Lean methodology the one adopted by Toyota for quality management, identifies
the need of customers and thereby focuses in removing the non-value added processes. The
software like QHSE (Quality, Health, Safety and Environment) risk and compliance software is one
of the most widely used software by big companies in managing their tasks efficiently.
Quality Management Market: Drivers and Restraints
A happy customer to a greater extent leads more people to buy any item which has excellent
quality. Increased quality concern issues, easy handling of complex processes, strict regulations of
ISO, FDA, improved product quality, reduction in cost, increased customer satisfaction, defect
reduction, increased market image drives the quality management market. Initial introduction
costs i.e training people with new changes in process can sometimes restraint the market for
quality management market to grow.