Hi Andy, What a professional you are! Your voice is so clear and easy to understand, the title reflects the information you provide, no annoying background music, you don't make those weird noises (err, mmm, slapping lips...). I'm working in my credentials/requirements to register in your CQE classes. Thank you for sharing your knowledge. God bless.
How are these costs accounted for? I can understand accounting for scrapped material, but how would you account for all the labor costs associated with reworking, training, and received inspections?
Great question - I'm honestly not sure there are any disadvantages, as it's an important mindset/concept to know and use. In terms of advantages, it helps quality professionals talk about quality from a monetary (cost) perspective. This is important because many folks outside of quality only speak the language of money.
@@greenbeltacademy Thank you for responding! How about "It does not provide a clear guidance of how to calculate/measure the Cost of Quality and the methods vary from company to company." ?
@@kaizhang5811 That's a great point, I honestly don't think about CoQ as an official financial system because most companies have to legally comply with GAAP and they rarely want to maintain two different perspectives on cost accounting. But you're absolutely right, a lack of standardization is a big downside of the CoQ accounting method.
Great video, I appreciate such a clear explanation. There was another curve (the tradicional curve) that minimized the total quality costs, by combining both of the curves, but the lowest point was in the middle of both. Why is this approach different coming from the same theory?
Hey Gabo, that image you're referring to was the original version of this same graph. Juran later revised it so that the lowest cost point was at 100% quality. This reflected the changing attitude towards quality that Juran and other guru's had around that time.
Great Presentation! I would like to know the quality cost types(4 types) behavior over time...do they increase or decrease or remain the same? Thankyou!
Thanks Saikiran, Okay so the answer to that question depends on you. If you're solving problems, and eliminating waste and variation, the cost of poor quality should decrease over time. The cost of good quality might increase slightly, but the total cost of quality should decrease.
Oh no, sorry about that! I'll have to try and improve the way I explain that curve. I'm assuming here you mean Juran's Quality Cost Curve starting at 10:05. Essentially, Juran took those Quality Cost Concepts (Cost of Poor Quality, Cost of Good quality, and Total Cost of Quality) and created a curve to help folks visualize how those costs would change (increase or decrease) as your overall quality level changed (increased or decreased). -Andy
Hey Vikas, that's a great question!! So I think it's impossible to categorize an entire role into one category. Because supervisors do perform activities that fall into the appraisal bucket (confirming work has been done correctly), but they also engage in activities that fall into prevention (continuous improvement).
@@CQEAcademy Thankyou Sir 🙏🏻. Really appreciate you replied to my question. I personally think it would be an Appraisal Cost, as mostly they are involved in supervising the work of labour (i.e. ensuring they are performing as per the required standards). However it was one of my friend who said it will be a Preventive Cost. So just wanted a clarification from an expert like you
This has to be one of the most relevant explanations I have seen. well done.
Thanks so much!!
Very Comprehensive and easy to connect with the dots ,Thanks andy you are number 1
Wow thank you so much!! I appreciate that!
I enjoy all of the explanations and the relatable examples. Thank you!
Awesome, thanks Julie!!
Great explanation.Very clear and informative.Thanks
Thanks so much, I appreciate that!!!!
Thanks
So helpful 💚
Greetings from Egypt
You're welcome, glad you liked it!
Cleared my concept, thanks mate
You're welcome Donpuneet!!!
Very Informative video. The concept is nicely explained.
Thanks a lot!
I have learned so much from your videos. Thank you so much!
Awesome, thanks so much for the great feedback, that's what it is all about!
That was an amazing explanation!!, Keep it up
Will do, thanks Ihab!
Amazing and valuable video. Thank you so much
You're welcome, I'm glad you liked it!!!
Great explanation!
Thanks!
Excellent as always!! Thank you!!!
Hi Andy, What a professional you are! Your voice is so clear and easy to understand, the title reflects the information you provide, no annoying background music, you don't make those weird noises (err, mmm, slapping lips...). I'm working in my credentials/requirements to register in your CQE classes. Thank you for sharing your knowledge. God bless.
Oh wow, thanks so much Maribel!!!
I'm excited to work with you personally and help you pass the CQE exam!!
Good work 👏. Please keep going 👍
Thanks, and will do!!!
-Andy
Great explanation!!Thanks
Glad it was helpful!
Very Nice video..... thanks 🙏
You're welcome Moni!!!!
Thank you sir ❤️
You're absolutely welcome, it is my pleasure!
How are these costs accounted for? I can understand accounting for scrapped material, but how would you account for all the labor costs associated with reworking, training, and received inspections?
Many thanks !
Thank you so much!
well explained, thank you engr :)
You are welcome! Glad you liked it!
Great video, what is, in your opinion, the advantages and disadvantages of COQ?
Great question - I'm honestly not sure there are any disadvantages, as it's an important mindset/concept to know and use. In terms of advantages, it helps quality professionals talk about quality from a monetary (cost) perspective. This is important because many folks outside of quality only speak the language of money.
@@greenbeltacademy Thank you for responding! How about "It does not provide a clear guidance of how to calculate/measure the Cost of Quality and the methods vary from company to company." ?
@@kaizhang5811 That's a great point, I honestly don't think about CoQ as an official financial system because most companies have to legally comply with GAAP and they rarely want to maintain two different perspectives on cost accounting.
But you're absolutely right, a lack of standardization is a big downside of the CoQ accounting method.
Great video, I appreciate such a clear explanation.
There was another curve (the tradicional curve) that minimized the total quality costs, by combining both of the curves, but the lowest point was in the middle of both. Why is this approach different coming from the same theory?
Hey Gabo,
that image you're referring to was the original version of this same graph. Juran later revised it so that the lowest cost point was at 100% quality. This reflected the changing attitude towards quality that Juran and other guru's had around that time.
Great Presentation!
I would like to know the quality cost types(4 types) behavior over time...do they increase or decrease or remain the same?
Thankyou!
Thanks Saikiran, Okay so the answer to that question depends on you.
If you're solving problems, and eliminating waste and variation, the cost of poor quality should decrease over time.
The cost of good quality might increase slightly, but the total cost of quality should decrease.
@@CQEAcademy Thankyou
@@saikiranrathod9022 You're welcome!!
The graph I couldn’t understand the graph your explanation I understand but not the graph. :/
Oh no, sorry about that!
I'll have to try and improve the way I explain that curve.
I'm assuming here you mean Juran's Quality Cost Curve starting at 10:05.
Essentially, Juran took those Quality Cost Concepts (Cost of Poor Quality, Cost of Good quality, and Total Cost of Quality) and created a curve to help folks visualize how those costs would change (increase or decrease) as your overall quality level changed (increased or decreased).
-Andy
What about cost of Supervisor.
Will it be a Preventive or Appraisal Cost
Hey Vikas, that's a great question!!
So I think it's impossible to categorize an entire role into one category. Because supervisors do perform activities that fall into the appraisal bucket (confirming work has been done correctly), but they also engage in activities that fall into prevention (continuous improvement).
@@CQEAcademy Thankyou Sir 🙏🏻. Really appreciate you replied to my question.
I personally think it would be an Appraisal Cost, as mostly they are involved in supervising the work of labour (i.e. ensuring they are performing as per the required standards).
However it was one of my friend who said it will be a Preventive Cost.
So just wanted a clarification from an expert like you
@@Saffron_Kidd Glad I could help!