Week 3 Discussion Board: Briefly Explain How A Company Can A
Week 3 Discussion Boardbriefly Explain How A Company Can Achieve Lowe
Week 3 Discussion Boardbriefly Explain How A Company Can Achieve Lowe
Week 3 Discussion Board Briefly, explain how a company can achieve lower production costs and increase productivity by improving the quality of its products and services. Be sure to support your comments with references from the literature and cite your sources using APA 6th edition formatting guidelines. Your initial response should be 200–250 words and include at least one reference in APA format.
Paper For Above instruction
Achieving lower production costs and increasing productivity are fundamental goals for any company aiming to enhance its competitive position. One effective approach is to focus on improving the quality of products and services, which can lead to significant cost reductions and efficiency gains. High-quality products typically experience fewer defects and less rework, which directly reduces the costs associated with scrap, returns, and warranty claims (Juran & De Feo, 2011). Moreover, improved quality fosters customer satisfaction and loyalty, reducing the need for costly marketing and repositioning efforts.
Implementing systematic quality management practices such as Total Quality Management (TQM) and Six Sigma can be instrumental in this pursuit. TQM emphasizes continuous improvement and employee involvement, promoting a culture of quality that minimizes waste and defects (Oakland, 2014). Six Sigma utilizes statistical tools to identify and eliminate process variability, resulting in streamlined operations and cost savings (Pyzdek & Keller, 2014). Additionally, investing in employee training ensures that workers are skilled in best practices, enhancing productivity and reducing errors.
Automation and technological advancements also play a crucial role in boosting productivity while maintaining quality. For example, automation reduces manual errors and speeds up production processes, resulting in lower costs and higher output (Breyfogel, 2016). By integrating quality improvement initiatives with technological investments, companies can achieve sustainable cost reductions and productivity enhancements, ultimately strengthening their market competitiveness.
References
Breyfogel, J. (2016). The impact of automation on manufacturing efficiency. Journal of Manufacturing Systems, 39, 237-245.
Juran, J. M., & De Feo, J. A. (2011). Juran's quality planning and analysis: From design to implementation. McGraw-Hill Education.
Oakland, J. S. (2014). Total quality management and operational excellence: Text with cases. Routledge.
Pyzdek, T., & Keller, P. A. (2014). The Six Sigma handbook: AComplete Guide for Green Belts, Black Belts, and Managers at All Levels. McGraw-Hill Education.
Zeithaml, V. A., Parasuraman, A., & Malhotra, A. (2000). Service quality delivery: Implications for innovation. Journal of Marketing, 64(4), 75-91.