PRESENT IN TABLE FORMAT.

You are a quality manager at a manufacturing company that produces automotive parts.The company is commited to improving product quality and reducing defects o enhance customer satisfaction and competitiveness in the market.Your taskis to develop acomprehensive analysis of quality costs and their implications for the organization's operations.

In your analysis,address the following key areas:

Define and Classification of Quality Costs: Define quality costs and classify them into four main categories: prevension costs,appraisal costs,internal failure costs, and external failure costs.Provide examples of each type of quality cost and explain how they contribute to the overall cost of quality.

Quality Cost Reduction Strategies: Propose strategies for reducing quality costs and improving overall quality performance within the organization.Discuss approaches such as Total Quality Management$[$TQM$],$Six Sigma,Lean Manufacturing, and Continuous Improvement to minimize waste,defects,and rework.Highlight the importance of employee invovement,process optimization, and supplier quality management in achieving cost savings andquality improvements.

Bencmarking and Best Practices: Reseach industry bencmarks and best practices related to quality management.Compare the organization's quality costs to industry standards and identify opprtunities for improvement.Discuss the potential benefits of benchmarking and adopting best practices to optimize quality performance and reduce costs.

Implementation Plan: Develop a detailed plan for implementing quality cost reduction initiatives within the organization.Define specific action steps,responsibilities, timelines, and resource requirements for each initiative.Consider factors such as organizational culture,leadership support, and employee training to ensure successful implementation.

Performance Measurement and Monitoring: Define key performance indicators$[$KPIs$]$ and metrics for measuring the effectiveness of quality cost reductioninitiative.Discuss methods for tracking and monitoring performance against these KPIs,identifying areas for implovement, and making real$-$time adjustments to optimize quality performance and reduce costs.

Conclusion: Summarize the key findings and recommendations of your quality cost analysis. Highlighting the potential benefits of reducing quality costs and imploving product quality for the organization's competitiveness,profitability, and long$-$term sucess in the marketplace.

Your assignment should demonstrate a thourough understanding of costs concepts, as well as critical thinking and analytical skills in identifying opportunities for cost reduction and quality improvement within the organization.Use relevant theoretical concepts,industry examples, and scholarly sources to support your analysis and recommendations.