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Total Quality Management (TQM)
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The Cost of Quality (CoQ) is a strategic framework that quantifies the total cost incurred to ensure and manage product or service quality—both good and bad. It includes prevention, appraisal, and failure-related costs. 🧩 What Is Cost of Quality (CoQ)? CoQ is a methodology used to identify and measure the financial impact of quality-related activities. It helps organizations understand how much they spend to: - Prevent defects - Inspect and test products - Fix internal issues - Handle external
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