Federal Reserve (US Central Bank) printed defective 30 million pieces of new $100 bills to be shredded because of ink errors. I hope our Bangko Sentral would not find itself on the same situation.
The point is, Cost of Poor Quality (COPQ) of processes is VERY EXPENSIVE
Process delays, defects and variations are cash leaks that flushes-out your business' profits. These are your hidden expenses. Invest in a quality program like Six Sigma, to reduce your COPQ.
82% of Fortune 100 Companies & 53% of Fortune 500 companies have a Six Sigma Program
Over the past 20 years, use of Six Sigma, the popular business improvement methodology, has saved Fortune 500 companies an estimated $427 billion, according to research published in the January/February 2007 issue of iSixSigma Magazine.
Not only will you get ROI on your Six Sigma program, but will also reap non-financial benefits which are priceless: increase in employee motivation, decrease employee burn-out due to unending fire fighting, decrease employee turn-over, increase customer satisfaction, etc.
It's your call. Ignore your hidden costs or start a Lean Six Sigma initiative.
ask@6sigmaph.com
http://abcnews.go.com/Business/video/new-100-bills-destroyed-printing-mistake-19963718
The point is, Cost of Poor Quality (COPQ) of processes is VERY EXPENSIVE
Process delays, defects and variations are cash leaks that flushes-out your business' profits. These are your hidden expenses. Invest in a quality program like Six Sigma, to reduce your COPQ.
82% of Fortune 100 Companies & 53% of Fortune 500 companies have a Six Sigma Program
Over the past 20 years, use of Six Sigma, the popular business improvement methodology, has saved Fortune 500 companies an estimated $427 billion, according to research published in the January/February 2007 issue of iSixSigma Magazine.
Not only will you get ROI on your Six Sigma program, but will also reap non-financial benefits which are priceless: increase in employee motivation, decrease employee burn-out due to unending fire fighting, decrease employee turn-over, increase customer satisfaction, etc.
It's your call. Ignore your hidden costs or start a Lean Six Sigma initiative.
ask@6sigmaph.com
http://abcnews.go.com/Business/video/new-100-bills-destroyed-printing-mistake-19963718
