- Conformance to requirements or fitness for use. Quality can be defined through five principal approaches:
1) Transcendent quality is an ideal, a condition of excellence.
2) Product-based quality is based on a product attribute.
3) User-based quality is fitness for use.
4) Manufacturing-based quality is conformance to requirements.
5) Value-based quality is the degree of excellence to an acceptable price.
- Also, quality has two major components:
a) quality of conformance – quality is defined by the absence of defects.
b) quality of design – quality is measured by the degree of customer satisfaction with a product’s characteristics and features.
- Quality Assurance/ QA
- Program planned to provide that goods purchased may be inspected and/or tested so that compliance with specifications may be determined.
- Quality Circle
- In quality management, a small group of people who normally work as a unit and meet frequently to uncover and solve problems concerning the quality of items produced, process capability, or process control.
- Quality Control
- The management function that attempts to ensure that the goods or services in a firm manufacturers or purchases meet the product or service specifications.
- Quality Function Deployment (QFD)
- A structured method for translating user requirements into detailed design specifications using a continual stream of “what-how” matrices. QFD links the needs of the customer (end user) with design, development, engineering, manufacturing, and service functions. It helps organizations seek out both spoken and unspoken needs, translate these into actions and designs, and focus various business functions toward achieving this common goal.
- Quality Management
- Ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality improvement. Quality management is focused not only on product and service quality, but also on the means to achieve it.
- Quantity discount
- a price structure that involves lower prices for larger purchase quantities. Quantity discounts generally have specific “break points” that designate quantities at which the price changes.
- The setting aside of items from availability for use or sale until all required quality tests have been performed and conformance certified.
- Queue time
- the amount of time inventory is staged prior to processing.
- Quick Response (QR)
- A strategy widely adopted by general merchandise and soft lines retailers and manufacturers to reduce retail out of stocks, forced markdowns, and operating expenses. These goals are accomplished through shipping accuracy and reduced response time. QR is a partnership strategy in which suppliers and retailers work together to respond more rapidly to the consumer by sharing point-of-sale scan data, enabling both to forecast replenishment needs.