Description

It’s always beneficial to have many ideas for suggestions and improvements, but what do you do with those ideas to decide which one is best? There are two major factors to consider: the difficulty of making the changes, and the cost of implementation. These two factors are considered together to work out the potential payback in terms of quality, cost, and delivery (QCD).

In order to identify the rankings of each factor and to help you prioritise the improvement ideas, you can use a simple matrix, with level of payback on the x-axis and level of difficulty along the y-axis, moreover, ideas in the top left quadrant would be implemented first, as they provide the biggest payback with the least difficulty. Each of the two factors are rated between one and five. Lastly, it is essential that there is team involvement to get a balanced view. 

Once the root cause of a problem is established, goals can be set to provide improvement, these goals must be quantified, and in the form of SMART objectives. As always, these goals are agreed after a full discussion and consensus by the team, then an action plan can be made that allows the monitoring of the plan; this also helps to spot any deviation from the plan. 

Once again, the plan is made using SMART objectives, so when it’s completed, the team can compare the end result with initial measurements to assess the success of the improvement. 

In order to measure competitiveness of a business, you must look at quality, cost, and delivery performance (QCD) of a company. This can be measured using the following indicators: not right first time, delivery schedule achieved, people productivity, stock turns, overall equipment efficiency, value added per person, and floor space utilisation.

Instructions:

• Please complete the course, review questions, and successfully complete the qualified assessment with a minimum of 100% accuracy within one year of course enrolment.
• To retake the course, please refresh your browser and the course will start again.

Instruction before the Final Exam:

• The following exam will test your knowledge of this course.
• You can take it as many times as you want.
• You must have a score of 100% to pass this exam.
• You are required to complete the qualified assessment within one year of the date of purchase or enrolment.
• You must pass this exam to receive continuing education credits.
• You would need to retake the course before attempting the qualified assessment again.
• To redo the course after passing, you would need to reset the course.
• You won’t be awarded additional CPE if you re-take the qualified assessment after passing once.
• Please fill in and submit the survey after passing final exam to get CPE and Certificate of Completion.