Join Chris Croft for an in-depth discussion in this video Optimising your quality, costs, and time tradeoff, part of Process Improvement Fundamentals.
- In every process, you've got quality, cost, and time.…The quality of what you're making…or doing if it's a service,…the cost of the process, and the time it takes.…And by the way, time isn't the hours spent doing…the work because that's cost, it's the lead time,…how long customers have to wait after placing an order.…And time could also be on time delivery,…although that's usually a function of variability,…which is more likely to be to do with quality.…If things vary each time you do them,…maybe having to be done twice,…then your on time delivery will be affected.…
So really when you boil it down, you've got…quality, cost, and time at the root of your processes…and the problem is that you can't have all three.…You can get your cost down by reducing your quality.…Higher quality usually takes longer to produce.…Or less obviously, it costs you more to produce…things quicker, and I'll explain that in a minute.…Many organizations haven't really thought this through.…They want to deliver great quality at a low price…
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- Measuring processes
- Using statistical process control
- Optimizing the quality, cost, and time trade-off
- Understanding queues
- Reducing cost by reducing waste
- Improving delivery time
- Thinking about batch sizes
- Understanding Lean and Six Sigma processes