Cost of Quality Analysis and Reporting using Microsoft Excel from Udemy

What's inside

Learning objectives

The major quality cost "buckets": preventive, appraisal, internal, and external
How to collect and correctly analyze cost of quality data
How to build a cost of quality report
How to format a coq report for maximum effectiveness

How to use an excel pivot table to summarize your internal scrap data
How to apply pareto analysis to your coq report as a mean of kickstarting your continual improvement initiatives
Where payroll, purchases, training costs, internal scrap, return product freight, an all other quality related costs fit into your analysis
Key concepts of quality engineering and quality management

The major quality cost "buckets": preventive, appraisal, internal, and external
How to collect and correctly analyze cost of quality data
How to build a cost of quality report
How to format a coq report for maximum effectiveness
How to use an excel pivot table to summarize your internal scrap data
How to apply pareto analysis to your coq report as a mean of kickstarting your continual improvement initiatives
Where payroll, purchases, training costs, internal scrap, return product freight, an all other quality related costs fit into your analysis
Key concepts of quality engineering and quality management

Syllabus

Develop a complete, accurate and consistent method for analyzing the Cost of Quality for their organization.

Introduction to this video series. Accurately, completely, and consistently measuring your organization's cost of quality is a cornerstone to improving your process.

The four major categories of quality costs used throughout the manufacturing and service industries.

Establish the routes to collect pertinent accounting and quality rejection data month after month.

Essential purchasing data and logical sub-group for reporting.

Interpreting and summarizing quality department payroll data.

Useful summary statistics for payroll data.

Setting up the External Quality Cost page of your report.

The key items needed for an internal quality rejection report.

Building the foundation of an accurate internal quality scrap log.

Collecting and summarizing training data.

Product costing for non-finance professionals.

Calculatingg the cost of your internal rework labor.

Merging the unit costs for your scrap and salvage into your Internal Scrap Log.

Finalizing your Internal Scrap Costs.

Build out your External Quality Costs page.

Integrating your External Quality Costs into your final report.

Integrating your Internal Quality Costs into your final report.

Integrating your Appraisal Quality Costs into your final report.

Integrating your Preventive Quality Costs into your final report.

Finalizing your Cost of Quality report and calculating your costs as a percentage of Sales.

Formatting and distribution of your report for maximum effectiveness.

Tracking your monthly quality costs for the long term.

5 Questions testing your knowledge of the lecture material.

Run charts and control charts for the major COQ categories.

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Teaches how to connect quality control knowledge and activities to a company's larger objectives, which is valuable for career advancement

Develops skills in Pareto analysis, which is a means of kickstarting continual improvement initiatives and is highly valued in quality management

Explores the four major categories of quality costs used throughout the manufacturing and service industries, providing a strong foundation

Requires Microsoft Excel, which is a common tool in business settings, but learners should ensure they have access to it

Focuses on using Excel formulas like VLOOKUP and Pivot Tables, which may require learners to have some familiarity with the software

Covers run charts and control charts for major COQ categories, which are essential tools for statistical process control and quality analysis

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Cost of Quality Analysis and Reporting using Microsoft Excel with these activities:

Review Basic Accounting Principles

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Reinforce your understanding of fundamental accounting principles to better grasp how quality costs are tracked and categorized.

Browse courses on Cost Accounting

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Review key accounting terms and concepts.
Practice basic journal entries and financial statement preparation.

Read 'The Goal: A Process of Ongoing Improvement'

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Understand the principles of process improvement and bottleneck identification to better analyze and reduce quality costs.

View The Goal: A Process of Ongoing Improvement -... on Amazon

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Read the book and take notes on key concepts.
Reflect on how the Theory of Constraints applies to quality cost reduction.

Excel VLOOKUP Practice

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Sharpen your Excel VLOOKUP skills to efficiently summarize and analyze cost of quality data.

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Find or create a dataset with at least 2 tables.
Use VLOOKUP to combine the tables.
Practice using VLOOKUP with different data types.

Three other activities

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Review 'Juran's Quality Handbook'

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Gain a broader understanding of quality management principles and tools to enhance your cost of quality analysis.

View Juran's Quality Handbook on Amazon

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Read relevant sections of the handbook.
Take notes on key concepts and tools.
Consider how these concepts apply to your COQ reporting.

Create a Sample COQ Report

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Apply your knowledge by creating a sample cost of quality report using hypothetical data.

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Gather hypothetical data for each of the four cost categories.
Create an Excel spreadsheet to organize the data.
Use Excel formulas and pivot tables to summarize the data.
Format the report for maximum impact.

Analyze COQ in a Public Dataset

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Solidify your understanding by analyzing cost of quality data in a real-world dataset.

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Find a publicly available dataset related to manufacturing or service operations.
Identify and extract relevant cost data.
Categorize the costs into the four COQ categories.
Create a COQ report and analyze the findings.

Career center

Learners who complete Cost of Quality Analysis and Reporting using Microsoft Excel will develop knowledge and skills that may be useful to these careers:

Quality Engineer

As a Quality Engineer, you are responsible for designing and implementing quality control systems to ensure products meet required standards. The Cost of Quality Analysis and Reporting using Microsoft Excel course fits directly into this job. The course covers how to measure and report on quality costs, enabling you to identify areas for improvement and track the effectiveness of quality initiatives. Training from the course on cost of quality categories, data collection methods, and Excel-based report generation is essential for effectively managing and improving product quality.

See salaries and explore the career path for Quality Engineer

Quality Assurance Analyst

As a Quality Assurance Analyst, you will be responsible for monitoring and improving the quality of products or services. This course, centered around Cost of Quality Analysis and Reporting using Microsoft Excel, is highly relevant. It can help you understand how to identify, collect, and analyze quality-related data. The course teaches the four cost of quality categories: prevention, appraisal, internal, and external. You will learn to connect your quality assurance activities to the company's financial goals. The course provides skills in data collection, Excel formula usage, and COQ report formatting, all of which build a foundation for this role.

See salaries and explore the career path for Quality Assurance Analyst

Continuous Improvement Manager

A Continuous Improvement Manager strives to optimize processes and eliminate inefficiencies within an organization. This course, centered on Cost of Quality Analysis and Reporting using Microsoft Excel, aligns directly with the role's objectives. Understanding the financial impact of quality issues allows for targeted improvement efforts. This training in data collection related to costs, Pareto analysis, and Excel-based report generation are crucial for identifying areas with the greatest potential for improvement. Learning these skills will help ensure that improvements are sustained and contribute to the company's profitability.

See salaries and explore the career path for Continuous Improvement Manager

Data Analyst

The Data Analyst collects, processes, and performs statistical analyses of data. This role will benefit from the Cost of Quality Analysis and Reporting using Microsoft Excel course. The course teaches how to gather raw data, summarize it in a useful way, and display trends. A Data Analyst could use these techniques to provide regular reports or to present information that has previously been unavailable. The course also covers using Excel, which is an important tool for this field. The skills developed can translate to other types of data and sources.

See salaries and explore the career path for Data Analyst

Process Improvement Specialist

The role of a Process Improvement Specialist is to analyze existing processes, identify areas for improvement, and implement solutions to increase efficiency and reduce waste. This course, focusing on Cost of Quality Analysis and Reporting using Microsoft Excel, can help you excel in this role. The course teaches how to measure and report on quality costs, which is essential for process improvement. It can help you understand how to collect and analyze relevant data, identify trends, and present findings in a clear and impactful way. You'll learn Excel skills to effectively build your reports.

See salaries and explore the career path for Process Improvement Specialist

Manufacturing Engineer

A Manufacturing Engineer optimizes manufacturing processes to improve efficiency and reduce costs. The Cost of Quality Analysis and Reporting using Microsoft Excel course helps you understand the financial impact of quality issues within manufacturing. By learning to track and analyze quality costs, you can identify areas where improvements can have the greatest impact on the bottom line. The course content on defect cost estimation, scrap data analysis, and product costing is directly applicable to the daily tasks of a manufacturing engineer, enabling data-driven decision-making for process optimization.

See salaries and explore the career path for Manufacturing Engineer

Operations Manager

An Operations Manager oversees the day-to-day activities of a company to ensure efficient and effective operations. The Cost of Quality Analysis and Reporting using Microsoft Excel course is beneficial. The course teaches how to identify and measure quality costs, which is crucial for optimizing operations and controlling expenses. Training on data collection, Excel-based analysis, and report formatting skills allows you to gain insights into quality-related issues and implement solutions to improve overall operational performance.

See salaries and explore the career path for Operations Manager

Supply Chain Analyst

The Supply Chain Analyst optimizes the flow of goods and services from suppliers to customers and this course on Cost of Quality Analysis and Reporting using Microsoft Excel will allow you to be successful. By understanding quality costs throughout the supply chain, you can identify inefficiencies and implement improvements. The course teaches how to track costs associated with defects, returns, and other quality-related issues, allowing insight into areas to improve. Skills in Excel, data analysis, and report generation are crucial for effectively managing and improving the overall supply chain.

See salaries and explore the career path for Supply Chain Analyst

Business Analyst

As a Business Analyst, you will analyze data to identify trends, provide insights, and help drive business decisions. This course that focuses on Cost of Quality Analysis and Reporting using Microsoft Excel is valuable to this role. You might use the skills learned in this course to analyze quality data, identify areas for improvement, and quantify the financial impact of quality initiatives. By understanding how to collect, analyze, and present quality cost data, you will be able to provide data-driven recommendations to improve business performance. Course topics such as data collection, Excel formulas, and report formatting will allow you to succeed.

See salaries and explore the career path for Business Analyst

Project Manager

A Project Manager plans, executes, and closes specific projects, ensuring they are completed on time, within budget, and to the required quality standards. This course on Cost of Quality Analysis and Reporting using Microsoft Excel can help a Project Manager understand the financial implications of quality decisions during a project lifecycle. By learning to track and analyze quality costs, a project manager can make informed decisions to minimize risks and maximize project success. The skills taught in the course on data collection, Excel, and report generation are applicable to any kind of project.

See salaries and explore the career path for Project Manager

Financial Analyst

A Financial Analyst analyzes financial data, prepares reports, and provides insights to guide business decisions. While not directly a quality-focused role, the Cost of Quality Analysis and Reporting using Microsoft Excel course can broaden your skill set. This course helps you to understand the impact of quality on a company's bottom line. By learning to analyze quality costs, you can provide a more complete picture of a company's financial performance. The skills taught related to data collection, Excel, and report generation will allow you to add value to your role.

See salaries and explore the career path for Financial Analyst

Compliance Officer

A Compliance Officer ensures that a company adheres to regulatory standards and internal policies. Accurate quality cost data is essential for demonstrating compliance and identifying potential risks. This course on Cost of Quality Analysis and Reporting may equip you with the skills to document and analyze quality-related expenses. By mastering data collection, analysis, and report generation, you can effectively present findings to stakeholders and support compliance efforts. The course's focus on Excel and data summarization is particularly helpful for this role.

See salaries and explore the career path for Compliance Officer

Auditor

An Auditor examines financial records and operational processes to ensure accuracy and compliance. This course on Cost of Quality Analysis and Reporting using Microsoft Excel may support your ability to review and assess quality-related expenses. By understanding how to collect, analyze, and report quality cost data, you will be able to effectively evaluate the accuracy and reliability of a company's quality control systems. The Excel skills are very helpful for this.

See salaries and explore the career path for Auditor

Management Consultant

As a Management Consultant, you advise organizations on how to improve their performance and efficiency. Understanding cost of quality is essential for identifying areas for improvement and recommending solutions to clients. This course, Cost of Quality Analysis and Reporting using Microsoft Excel, is relevant. It should help you to effectively assess a company's quality-related expenses, identify areas where costs can be reduced, and develop strategies to improve overall performance. The course's focus on data collection, Excel formulas, and report formatting are all skills that will be helpful in your consulting engagements.

See salaries and explore the career path for Management Consultant

Data Scientist

Data Scientists analyze complex data sets to extract insights and solve business problems, and have advanced technical skills including statistical modeling and machine learning. While the Cost of Quality Analysis and Reporting using Microsoft Excel course has a more general focus, it may be beneficial to you. The course can help you to learn how to identify, collect, and analyze quality-related data. The Excel skills that you will learn in this class that are specific to data analysis, collection and reporting may be helpful.

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Cost of Quality Analysis and Reporting using Microsoft Excel

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