Your team is divided on cost-saving versus product quality. How will you navigate this crucial decision?
Are you steering the ship through tough decisions? Dive into the debate and share your strategies for balancing cost and quality.
Your team is divided on cost-saving versus product quality. How will you navigate this crucial decision?
Are you steering the ship through tough decisions? Dive into the debate and share your strategies for balancing cost and quality.
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It is typically really never one or the other. It is easy to ask which one is more important, but in reality winning teams find a way to do both. Singular minded teams will not come out on top in the end.
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The cost of poor quality is higher than other costs, a poor quality product could destroy the customer relationship and create more issues in the future, so it is better to always work with quality than cost savings reductions, restoring customer relationships, or correcting errors later. We have to think first about quality and after cost savings. If the cost savings do not impact the quality of the product we can do it. But remember, the Customer first!
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The biggest misconception is that by any means cost cutting or cost saving deteriorate the quality. That's the wring interpretation. Cost Savings is to reduce fat from the system by simplifying the process, through alternative means, and by adopting same results through innovative means. End quality which is perceived by the consumer should not be changed, means keeping the quality intact one can apply cost saving measures.
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Better quality always pays in the longer run but cost saving can bring in poor quality . Once you loose quality it will be very long path to regain end users confidence.Keeping or improving quality might not bring in in cost saving in short run but will definitely bring a positive financial aspect in terms of better sales and improved confidence in long terms.
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Understanding the perspective of both the team members and inviting them for open discussion in constructive manner, I’ll facilitate to make an informed decision. My focus will be to find a balance between cost saving and product quality. It will be crucial to point out on compromising on either one of them can have negative consequences on the business. I’ll encourage the team to think creatively about ways to achieve both, cost reduction and product quality.
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