cost of poor quality and compliance in consumer good industries

Guide

Guide - 6 strategies to minimize the cost of poor quality

Stay updated with the latest supply chain insights.

Thanks for signing up!

Fast-track your digital transformation with QIMAone.

Get a live demo

Fast-track your digital transformation with QIMAone.

Get a live demo

What is the Real Cost of Poor Quality?

Although few businesses today need convincing that product quality is a crucial factor for success, ensuring consistent quality in today’s complex and easily disrupted supply chains can often feel like an uphill battle.

Nevertheless, this is a battle your business can’t afford to lose, because the costs of poor quality are all too real: 

  • In monetary terms, quality-related costs can eat up 15-20% of sales1
  • Up to two-thirds of products purchased online are returned for preventable reasons, including poor quality, damaged products, and products not living up to description2
  • When choosing a product, 22% of consumers can be driven away by a single bad review3

Therefore, it comes as no surprise that effective quality improvement programs translate to higher margins, better customer satisfaction and stronger brand loyalty.

This guide offers six strategies to minimize the cost of poor quality and improve the effectiveness of your quality program. 

1/ Streamlined Quality Processes and Product Traceability

While supply chain visibility and product traceability are often brought up in the context of sustainable sourcing, having a clear view of the product journey means you are able to quickly identify and address the root causes of quality issues: from specific defects to long-term trends such as quality fade. 

...

Interested? Download our guide to continue your reading and learn more.

Discover how QIMAone can help you with your business.

Get a live demo to find out how QIMAone can help your business