World Quality Month is approaching in November, and ASQ consistently does a great job offering resources and connecting the community. We encourage everyone to visit their website and download the Celebration Guide. We’re already planning office events and special promotions to offer throughout the month. As 3rd party quality providers passionate about serving the industry for over 30 years, “Quality Month” is kind of a big deal! We enjoy the opportunity to share our industry tools and spread awareness.
One of the resources that peaked our interest on the World Quality Month site includes an ROI FAQ sheet. Questions regarding the ROI of quality are our most commonly asked.
So, here are a few interesting points of note from ASQ:
- Every $1 spent on a quality management returned $6 in revenue, $16 in cost reduction and 3% in profit.
- Quality management reduces costs an average of 4.8%.
- 94% of organizations agree quality management was significant driver of success.
- 83% of organizations agree that without quality management, they could not justify their pricing to customers.
- ISO 9001 ROI was evaluated in a 2010 Harvard Business School study. The study found that adopters experienced higher rates of survival, increased wages, reduction in waste generation and enhanced worker productivity.
Look for more information regarding Quality Month as we continue to get organized. Let us know if you have any ideas and/or suggestions!