Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Total Quality Management aims at introducing quality in all organizational processes so as to prevent the 'quality aspect' from slipping at instance. It has been utilized in a number of organizations like education, hospitals, government and service industries.
TQM covers four other processes and emphasizes that a company maintain specific quality standards in all aspects of business.
One of the ways is to eliminate the variation from each process so that more consistency of efforts is attained thereby contributing to the ultimate aim of 'managing quality'.
However, taking constant efforts requires adopting a calculative approach towards the subject. This is possible by using BSC (Balanced Scorecard) having useful metrics listed on it. This management tool can help organizations in moving on the 'intended path' accurately.
Also, correction of deviations and departures is possible as one can always compare the 'actual values' with 'target values' and know whether the operations are heading in the way they are supposed to be.
On the whole, 'introducing quality' in all directions can be done by converging this quality management process together with other management strategies.
This is the actual scorecard with TQM (Total Quality Management) Performance Indicators and performance indicators. The performance indicators include: tqm, customer perspective, customer satisfaction, on time delivery, internal process perspective, cycle time, lead time, rework hours, capacity, external process perspective, ontime supplies, ontime value rate, inbound freight costs, optimal mode selection, financial perspective, cost of poor quality (copq), activity based costing (abc), return on investment, market share, employee perspective, number of projects completed, employee satisfaction .
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