28 Nov How Does A Quality Management System Help To Improve Business?
In a marketplace filled with immense competition, where client and industry standards are always varying towards improvement, and a large number of certifications are to be maintained, a quality management system needs to be implemented in order to have oneself found. Even if your products/services are being used globally, it is always suggested to have a quality management system in place to compete in the market that always evolves and demands.
It has been proven at every Quality Management Event in India that the keystone of a successful organization is an effective quality management system, which is a process that is used to review processes, products, and services of a business, to identify areas that may require quality improvement. Such a system includes rigorous processes that can continually increase the economic and quality value of products and services. Regardless of the size of the organization, a quality management system is required in every area of the business activity. A good quality management system reduces wastage, improves process control, lowers costs, increases market share, boosts employee morale, and satisfies customer expectations.
A properly implemented quality management system can contribute to the financial strength and flexibility of an organization. It can also bring important technological benefits by harmonizing technical specifications of products and services, making the industry more efficient and breaking down any kinds of barriers. With qualities in place, international recognition is also possible, which enables international companies to communicate and operate more seamlessly. All kinds of big and small businesses use management system standards to ensure that the processes, products, and services meet or exceed customer expectations. They also ensure that the improvement is continually implemented to keep the health of the organization in line.
Experts in ISQ’s Quality Management Conference in India say that a quality management system requires a more strategic-based thinking with clearly defined responsibilities and timeliness for those actions. It also specifies how, where, and why that action needs to be performed. Moreover, through continual improvement activities, the system is monitored, and all the actions are reported and updated as required. Improved processes are them accessed across the entire organization. These improved processes could be those that involve small-step continual improvements or significant improvements of the entire organization. All these improvements are defined through data analysis and a structured approach applied consistently for all processes. And, the performance is reviewed against specified criteria that can help determine strengths and weaknesses. In this manner, issues can be identified and considered to make improvements that can lead to better improvements and a positive effect on the bottom line.
In fact, those who adopt a quality management system experience 10% faster sales growth, 10% employment growth, 13% faster payroll growth, zero worker compensation, and more survival against non-adopters. Such adopters can also achieve 55% cost savings, 75% boosted operational performance, 75% improved customer satisfaction, 75% improved customer loyalty, and more than 70% new customers, and retained existing clients.