Cost Of Poor Quality and Reliability “Pay Me Now, or Pay Me Later ” Feat Andrew Amirnovin
In this episode...
Sofeast's head of New Product Development, Andrew Amirnovin, calls in again to explain why the cost of poor quality and reliability is so important for businesses that are developing and manufacturing new products, and what you might need to spend money on for both good and poor quality and reliability products. You'll also learn why the phrase “Pay Me Now, or Pay Me Later" is so appropriate.
Listen to the episode here: https://ChinaManufacturingDecoded.pod...
SHOW SECTIONS
00:00 - Greetings and introducing the topic.
01:34 - What does “Pay Me Now, or Pay Me Later" mean?
03:34 - Why is the cost of poor quality so important?
05:34 - What is the difference between the cost of GOOD and POOR quality & reliability?
07:18 - What drives up prevention costs?
09:31 - What drives up appraisal costs?
18:40 - What drives the cost of internal failures?
22:56 - What drives the cost of external failures?
26:55 - Our recommendation: Pay now!
30:27 - Key takeaways from this episode.
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