Cost of Quality
What's Inside the Cost of Quality (CoQ) Template?
Details | 3 Sheets
Supported Versions | Excel 2013, 2016, 2019, Office 365 (Mac)
Category | Operations
Tags | Quality Control, Manufacturing, Six Sigma
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Inside Our Cost of Quality Excel Template
Putting a band-aid on a cut that requires stitches won’t do much good. Sure, it may temporarily stop the bleeding, but the problem will persist unless the cut is systematically diagnosed and addressed with a long-term solution like stitches.
We think of Cost of Quality Analysis the same way. If you’re not proactively addressing the systems that produce poor quality products or services, you’re putting a band-aid on a cut that needs stitches.
Our Cost of Quality Excel Template is designed to streamline your process for identifying appraisal costs, prevention costs and internal and external failures.
We have more than 20 pre-built templates dedicated to supply chain, logistics and operations in our library of Excel spreadsheets.
Let’s dive into how to use our Cost of Quality template.
Start by recording Company Standards for Hourly Rate and Material Cost.
Navigate to the Raw Data sheet and expand the source list. Insert the Standard Hourly Rate and Material Cost Reference then collapse the source list.
Input lose details such as Date, Failure and Issue. You can add a new entry simply by inserting raw data in the table.
Make sure to refresh the data once you’ve added additional failures.
Once you’ve entered in the necessary details in the Raw Data sheet, the Master sheet will auto-calculate key numbers like Material Lost Cost, Lose Time Cost, Amount and Cost of Quality (COQ) %.
To the right of the Reporting Phase is the Analysis Phase, an easy to edit dashboard equipped with pivot tables for visualizing Failures and Issues as a whole as well as specific sub-categories like Appraisal, Internal, External, Complaint, Line Scrap and more.
The graphs, circle-chart and scatter-plot automatically display your data.
It’s not enough for our templates to make calculating your data easy. We make it a point to help your data come to life with visualizations that make sharing the data digestible to those who aren’t experts in process improvement.
We know this template will help you apply the proper fixes to quality issues and help you run a well-oiled machine.