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21.Jan.2025
Delivering Outstanding Annual Performance, Overall Cost of Quality Exceeds Expectations!
During 2024 Annual Quality Meeting that is recently held, Tanong announced that its total cost of quality (COQ) for the year was 0.41% of total revenue, surpassing the target of 0.45% set at the beginning of the year, and achieving a remarkable result! While total revenue increased compared to the previous year, the total cost of quality also significantly decreased. This outstanding achievement demonstrates Tanong's excellence in quality management and is also attributed to the concerted efforts of all employees.
For the manufacturing industry, the total cost of quality is a key operational indicator. It encompasses all resources invested by a company to ensure product quality, including scrap and failure costs. Effective management of the total cost of quality can significantly improve product reliability and customer satisfaction, reduce waste in the production process, lower operating costs, and strengthen the company's competitiveness. Tanong further establishes detailed records for each customer complaint case, and the Quality Assurance and R&D departments collaborate to develop effective improvement measures targeting the root cause of the problem, and rigorously track the effectiveness of implementation. Under effective management throughout the past year, customer complaints have shown a significant improvement.
"The total cost of quality of 0.41% of total revenue is not just a number, but a representation of our commitment to product quality and our commitment to customers. By continuously optimizing processes and enhancing the quality awareness of all employees, we create greater value for our customers." Looking forward to 2025, Tanong will adopt a more proactive approach, challenging the target of reducing the total cost of quality to 0.35% of total revenue, continuously improving the quality of products and services to meet the ever-increasing demands of customers, and continuing to lead the innovative development of high-pressure pump technology, contributing to the advancement of the industry.
For the manufacturing industry, the total cost of quality is a key operational indicator. It encompasses all resources invested by a company to ensure product quality, including scrap and failure costs. Effective management of the total cost of quality can significantly improve product reliability and customer satisfaction, reduce waste in the production process, lower operating costs, and strengthen the company's competitiveness. Tanong further establishes detailed records for each customer complaint case, and the Quality Assurance and R&D departments collaborate to develop effective improvement measures targeting the root cause of the problem, and rigorously track the effectiveness of implementation. Under effective management throughout the past year, customer complaints have shown a significant improvement.
"The total cost of quality of 0.41% of total revenue is not just a number, but a representation of our commitment to product quality and our commitment to customers. By continuously optimizing processes and enhancing the quality awareness of all employees, we create greater value for our customers." Looking forward to 2025, Tanong will adopt a more proactive approach, challenging the target of reducing the total cost of quality to 0.35% of total revenue, continuously improving the quality of products and services to meet the ever-increasing demands of customers, and continuing to lead the innovative development of high-pressure pump technology, contributing to the advancement of the industry.
