quality loss function
quality loss function
a technique that identifies the costs associated with QUALITY failures. It demonstrates the increase in costs as the product deviates from specification. Using the formula L = D2 x C where L = cost. D = deviation and C = the cost of avoiding the deviation.Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
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