Quadratic Loss Function
parabolic relationship between the dollars lost by a customer because of an off-target product performance and the measured deviation of the product from its intended performance.
Quality
ISO 8042 defines quality as the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs. Definitions:
Transcendent: excellence
Product: quality of product attributes
User-based: fitness for intended use
Value-based: quality vs. price
Manufacturing: conformance to specs
Quality Assurance
ISO 9000:2000 defines Quality Assurance as 'providing confidence that requirements will be met'. - update provided by J Broomfield; it can also be defined as 'the planned and systematic activities put in place to ensure quality requirements for a product or service will be fulfilled'.
Quality Assurance Plan
A detailed plan setting forth the process that will be used to measure supplier performance; defines what the organization must do to ensure that the supplier has performed in accordance with the performance standards.
Quality Circles
teams that follow a standard process of problem identification, root cause analysis, problem solving and implementation. In Japanese firms there is a greater focus on statistical quality control, employees meet on own time and all employees receive a bonus for the performance of the entire organization. Guide to Quality Control, Dr. Kaoru Ishikawa, English version 1986. Also recommend 'Managing; A Revival of the Quality Circle' in NY Times. Also read - Landel, Robert,Quality Circles. Darden Case No. UVA-OM-0636 . Available at SSRN: http://ssrn.com/abstract=1421686. This note presents the basic elements and implementation issues within a quality-circle program. Top-management and middle-management support roles are discussed, and implementation obstacles are presented.
Quality Control
the observation techniques and activities used to fulfill requirements for quality.
Quality Engineering
Set of operational, managerial and engineering activities that a company uses to ensure that the quality characteristics of a product are at the nominal or required levels.
Quality Function Deployment
Click here to read more about QFD
Quality Improvement
Quality is inversely proportional to variability. Quality Improvement is the reduction of variability in products and processes.
Quality Lever
this concept demonstrates that the earlier in the manufacturing process a quality correction or improvement is made, the greater the payoff - both in fixing the process and in reducing the costs. Theoretically, an investment in product engineering quality will give you a payback of 100:1 by the time your product is shipped. At the manufacturing engineering stage investment will have a payback of 10:1 greater than those made at final inspection.
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