Base Study of Cost and Quality Management and its Reviews

Abstract

Machine selection is crucial work in the modern industrial economy to grow up production levels and continue revenue generation. Machine selection is a challenging task between number of criteria. In this work, firstly decide the criteria of machine selection then decide the criteria weight of selected alternatives by using the AHP method. After that VIKOR method is used for selecting the machine. Then work on the cost of quality. Cost of Quality (COQ) is a measurement of the performance of any organization. The major aim of Cost of Quality is to focus on benefits. This article, discuss machine selection which is beneficial for the organization. There is using two types of description, one is formula based, and another one is based on the AHP method. Two machines were selected in an organization. One is a mechanical cutting CNC machine and the second is a laser cutting CNC machine. First, take data on real database analysis cost and quality, then calculating this data on the base of formulas. This whole procedure is based on market analysis and modern trend technology. This analysis is help to decide on any organization's machine. It will beneficial for the economy of the organization.