Quality management

Quality management is the act of managing all requirements and policies to achieve a certain level of quality. This includes developing a quality plan, coming up with and carrying out quality assurance and planning, as well as quality control and improvement. Additionally, it is known as complete quality management. Generally, quality management prioritizes long-term objectives while putting short-term plans into action (Baron, 2022).

Quality management consists of four key components,

• Quality Planning
• Quality Improvement
• Quality Control
• Quality Assurance

Quality Planning: the procedure for recognizing which quality standards apply to the project and choosing a technique for achieving them.

Quality Improvement: the planned adjustment of a procedure to increase the accuracy or dependability of the result

Quality Control: maintaining a process's dependability and validity as it works toward a goal

Quality Assurance: the methodical or planned steps required to provide good reliability so that a specific service or product will fulfill the defined requirements.

Principles of Quality Management

Figure: Principles of Quality Management System
Source : https://certaim.com/wp-content/uploads/2017/12/iso9001_ban3.jpg

1. Customer focus
2. Leadership
3. Engagement of people
4. Process approach
5. Continuous Improvement
6. Evidence-based decision making
7. Relationship management

(CFI Team, 2022)

Customer focus

Any organization's main goal should be to fulfill the requirements and expectations of its clients. Customer loyalty is created when a company can understand the requirements of its clients and provide for them, which in response increases sales. The company can also recognize and take advantage of new customer opportunities. More clients can be satisfied and quality is higher when company operations are more effective.

Leadership

The success of an organization is a result of good leadership. The employees and shareholders are brought together and given a sense of purpose under great leadership. Developing a positive workplace culture creates an environment where people can reach their full potential and actively participate in achieving corporate goals.

Employers should be included in the process of defining the organization's goals and objectives. Employees are motivated as a result, which could greatly increase their productivity and loyalty.

Engagement of people                                                                                                          

An additional key principle is employee participation. Whether they are full-time, part-time, outsourced, or internal employees, management involves all of them in developing and delivering value. A company should support its personnel in maintaining consistency and skill improvement.The principle also calls for giving employees control, including them in decision-making, and appreciating them for their achievements. People perform to the best of their abilities when they are valued because it increases their motivation and self-esteem. Employees feel empowered and responsible for their activities when they are fully involved.

Process approach                                                                                                                  

The process approach principle states that an organization's performance is essential. The approach principle places a strong emphasis on improving the effectiveness and efficiency of organizational processes. The strategy requires an understanding of how efficient procedures lead to increased consistency, quicker work, lower costs, waste removal, and ongoing improvement.

When leaders can manage and control a company's inputs, outputs, as well as the processes required to achieve those outcomes, the organization benefits.

Continuous Improvement                                                                                                  

Every organization should develop a goal to actively participate in ongoing improvement. Businesses that continuously improve see improvements in organizational flexibility, performance, and the capacity to seize new possibilities. Businesses should be able to continuously develop new procedures and adjust to shifting market conditions.

Evidence-based decision-making                                                                               

Businesses should use a fact-based approach when making decisions. Businesses that base their judgments on validated and evaluated data have better market knowledge. They can carry out actions that lead to specific goals and maintain their earlier decisions. Making decisions based on facts is essential for understanding the cause-and-effect links between various factors and for describing possible unexpected outcomes and effects.

Relationship management                                                                                                    

The goal of relationship management is to develop relationships with suppliers and customers that are beneficial. A company's performance may be affected by several interested parties. In order to maximize the effect of its suppliers on the performance of the firm, the organization should effectively manage the supply chain process and strengthen relationships with them. A company is more likely to experience long-term corporate success and collaboration when it effectively handles its relationships with interested parties.

Benefits of Quality Management (Veeva, 2022)

• It helps a company in achieving higher accuracy across all tasks and activities involved in the creation of goods and services.
• It improves the use of time and other resources, increases process efficiency, and decreases waste
• It helps improve customer satisfaction.
• It enables organizations to easily sell their products and take advantage of new markets.
• Businesses may integrate new employees more easily as a result, which promotes more flexible growth management.
• It allows a company to develop its systems, procedures, and goods.

For a company to maintain quality across all of its processes, goods, and services, quality management is essential. Customer satisfaction is important in business. The quality of the goods or services that a customer purchases should always be the supplier's first priority as this is what the customer is most concerned about.

References

Baron, A. (2022). Quality management. Investopedia. [Online] Available at: https://www.investopedia.com/terms/q/quality-management.asp#:~:text=Quality%20management%20is%20the%20act,quality%20control%20and%20quality%20improvement. [Accessed on 15/07/2022].

CFI Team, (2022). Quality management. CFI. [Online] Available at: https://corporatefinanceinstitute.com/resources/knowledge/strategy/quality-management/ [Accessed on 15/07/2022].

Veeva, (2022). The ultimate guide to quality management. Veeva. [Online] Available at: https://www.industries.veeva.com/ultimate-guide-to-quality-management.[Accessed on 15/07/2022].