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Why Higher Quality Means Lower Costs

Why Higher Quality Means Lower Costs

It may sound like a controversy, but indeed, higher quality leads to lower costs. According to Heizer & Render (2011), Cost of Quality (CQS) is the cost of delivering low quality product or service. Lets take a look at the logical background of these assumptions. We all know that quality means cost.

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Data, Information & Knowledge

Data, Information & Knowledge

Data, information, knowledge and wisdom are interrelated. This relation motivated me to think about knowledge and intelligence and about the buzzword that “information is an inexhaustible resource”. As far as I have been learnt, intelligence should be one of human traits...

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