Assignment Week 4 Case Study Help
Round 3: Week 4 – Assignment 3
Analyze Total Quality Management Strategy
Total quality management is the term that is used to describe the integrated effortsmade by the company’s management at every level, in order to improve the organization’s overall quality. Some of its important componentsthat contributed in helping the management to increase its quality and efficacy,includes Kaizen approach, customer focus approach, continuousimprovement, employee empowerment and team approach (Kar, 2017). In addition to this, the TQM process, includes: lowering the material cost, lowering the production time, reduction in lead time, training of the employees and approaching the continuous improvement and controlling at every level. In order to implement Total quality management approach; it is necessary for the organization to first consider the competitive industry environment, and thentake appropriate actions, including: the formulation of the TQM strategy, its vision and mission and then effectively communicating the strategy at the level of organization, by having afocused approach. Each employee should have focused attention towards TQM within the organization, by implementing the generated strategy. In addition to this, development and education of the employees are very necessary, and they should be empowered to take immediate required actions,without tip management permission, which could lead towards cost reductionand improvement approach. Furthermore, after implementing the strategy; it is important to evaluate the performance by inspecting and formulating quality controlprocedures, with an inclusion of quality assurance measures in future. Poor planning and lack of management commitment could lead towards the failure of the strategy, which will cause massive loss incurrence to the company.(Paramita, 2017).
In the round 4, in order to reduce the material and labor costs; some specific initiates have been taken, including the investment in continuous improvement measure along with investing in environment friendly activities, which could lead towards an increased demand. Thecustomers admire those products most, which yieldenvironmentfriendlybenefits, and this company is commitment towards the wellbeing of the society. Each initiative’s investment should not be greater than $1.5 million, which means that it could lead towards a massive loss incurrence if the investment is increased. Thus, assuming these measures;the investment criteria for each initiative has been taken into account, by considering its yielding impact. Those measures that will help the company in reducingits material cost and labor cost, has been allocated with more investments, while other measures, such as:environment friendly initiatives and global investment are kept lower. Furthermore, each initiative’s best and worst case have been examined.(Sila, 2016).
In round 4 TQM analysis;a total of $3,200 investment has been made, which has resulted in the material cost reduction of 0.02%, labor cost reduction of 0.06%, reduction ofR&D cycle time 0.19% and admin cost reduction by 0.03%. Despite all these efforts, it could be seen that the reduction percentage is too small, and it could be increased by taking specific TQM strategic measures. Thus, in order to increase the demand and to have further reduction in material and labor cost; it is recommended that investment in CPI systems, Vendorrelationship and Concurrentengineering should be increased, which will yieldan effective returnand reduced cost..............................
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