This presentation covers quality improvement and cost reduction. It defines quality improvement as maintaining excellence through quality policy, planning, assurance, and control. Quality is defined as meeting customer needs and expectations, value is what customers are willing to pay for, and waste is what they are not. The presentation outlines 7 steps for quality improvement and 5 common myths. It also defines cost reduction as reducing costs to increase profits, and lists techniques like target costing, activity-based costing, just-in-time, and value engineering. The conclusion is that properly implementing quality improvement and cost reduction leads to better quality, customer satisfaction, and company returns.

1. A PRESENTATION
ON
QUALITY IMPROVEMENT&COST
REDUCTION
Presentedby
Kurapati Sai Priyanka
Reg.no.18491E0015

2. Contents
covered
under this
topic
Meaning of quality improvement
Definition of quality improvement
Meaning of quality, value, waste
7 steps for quality improvement
Top 5 myth’s of quality improvement
Meaning of cost reduction
Techniques of cost reduction
Conclusion
References

3. MEANING OF QUALITY IMPROVEMENT
It is the act of overseeing all activities and tasks needed to maintain a
desired level of excellence. This includes the determination of a quality
policy, creating and implementing quality planning and assurance, and
quality control to attain quality improvement.

4. DEFINITION OF QUALITY
IMPROVEMENT
It is systematic approach to reduction or
elimination of waste, rework and losses in
production process.

5. Quality
A freedom from
deficiencies in products
or services whose
features and benefits
meet or exceed a
customer need and
expectation
Value
The worth placed
up on something
by the customer
for which they are
willing to pay
Waste
Everything else
invested in a product
or service for which
the customer is not
willing to pay

6. 9 steps to quality improvement

7. TOP 5 MYTH’S OF QUALITY IMPROVEMENT
We have to Know What Customers Want Better Than They Do.
Quality improvement is limited to manufacturing environment.
Responding to Complaints Improves Satisfaction.
 Customer Satisfaction and Customer Loyalty.
It wont work anyway.

8. Meaning of cost reduction
It is the process used by the companies to reduce
their costs and increase their profits.
Depending up on the company services and products
the strategies can vary.
Every decision in the product development process
affects costs.

9. COST REDUCTION TECHNIQUES
Target costing.
Activity based costing.
Just- in- time(JIT).
Enterprise resource planning(ERP).
Value engineering.

10. CONCLUSION
By implementing of the quality improvement steps and cost
reduction techniques in a proper way leads to the better quality of
products and services and it will also leads to get a better
customer satisfaction and as well as chance to earn a high rate of
return and goodwill for the product and services for the company
products.

11. References
 OperationsAcademia.org: The state-of-the-art of PhD
research in Operations Research/Management Science
and related disciplines Retrieved on October 22, 2016
 "What is Operations Management?". TopMBA.com.
2014-04-30. Retrieved 2018-12-02.
 Great Operations: What is Operations
Management Retrieved on July 3, 2013
 Jump up to:a b R. B. Chase, F.R. Jacobs, N. Aquilano,
Operations Management: For Competitive Advantage,
McGraw-Hill 2007