Zero defects financial definition of zero defects
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zero defects a business philosophy which emphasizes the need to make all products ‘right first time’ in order to minimize QUALITY COSTS.
zero defects a strategy of supplying products that cannot be faulted. Firms can adopt zero defects policies only if they are confident about their product QUALITY. Long-term supply contracts often specify zero defects terms, with buyers minimizing their inspection of components or products supplied.