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  • TQM Module Reduces Costs and Speeds Up R&D

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    Rachel Young
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    This document outlines a new Total Quality Management module that aims to reduce costs, shorten research and development cycle times, and increase demand for products. It recommends choosing one or more TQM initiatives that complement business strategy and making sustained, moderate investments over time for cumulative returns. Engaging in process management improvements, better business procedures, and more effective research, promotions, sales and labor can help achieve efficiency, quality and reduce costs.

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    This document outlines a new Total Quality Management module that aims to reduce costs, shorten research and development cycle times, and increase demand for products. It recommends choosing one or more TQM initiatives that complement business strategy and making sustained, moderate investments over time for cumulative returns. Engaging in process management improvements, better business procedures, and more effective research, promotions, sales and labor can help achieve efficiency, quality and reduce costs.

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    © All Rights Reserved
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    10 views3 pages

    TQM Module Reduces Costs and Speeds Up R&D

    Uploaded by

    Rachel Young
    This document outlines a new Total Quality Management module that aims to reduce costs, shorten research and development cycle times, and increase demand for products. It recommends choosing one or more TQM initiatives that complement business strategy and making sustained, moderate investments over time for cumulative returns. Engaging in process management improvements, better business procedures, and more effective research, promotions, sales and labor can help achieve efficiency, quality and reduce costs.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 3

    NEW MODULE // TQM

    OUTCOMES:

    1. REDUCE LABOR, MATERIALS &


    ADMINISTRATIVE COSTS
    2. SHORTEN LENGTH OF R&D CYCLE TIME
    3. INCREASE DEMAND FOR PRODUCTS
    BASIC IDEAS:

    . Choose One or More TQM Initiatives


    that COMPLIMENT YOUR STRATEGY
    . Engage in Sustained and Moderate
    Investments for Cumulative Effect over

    NEW MODULE // TQM / INITIATIVES


    PROCE
    SS
    MGMT IMPROVE

    BUSINESS
    PROCEDURES
    BETTER
    EFFICIENCY &
    REDUCED
    COST
    STRUCTURE

    TQM

    IMPROVE
    PRODUCT
    QUALITY &
    REDUCE TIME
    &
    RESOURCES
    MORE
    EFFECTIVE
    R&D,
    PROMOTIONS
    , SALES &
    LABOR

    NEW MODULE // TQM / EFFECTIVE


    BUDGETING

    EACH YEAR // DIMINISHING RETURNS OVER $1.5


    MILLION PER INITIATIVE
    CUMULATIVE // DIMINISHING RETURNS OVER $4 MILLION
    PER INITIATIVE

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