Benefits of ISO 9000: What is your ROI?
What to expect in return for your investment in an ISO 9000 Quality Management System?
Feedback from ISO 9000 Registered work.
- This starts with the setting of the Quality Policy and Quality Goals and Objectives.
- It continues with Management Review looking at data from the QMS, and taking actions to make sure that Quality Goals are met
- New Goals are set, and continual improvement is achieved.
With the QMS in place and working for you, the organization is focused towards the Quality Goals.
- Management is provided with data on a continual basis and able to see progress or lack of progress towards goals and take appropriate action.
- The organized, scheduled process of conducting Management Review ensures that this evaluation takes place.
- It provides the mechanism of reviewing goals and performance against goals on a scheduled basis, and for taking action based on the evaluation.
- Increased productivity results from the initial evaluation and improvement of processes that occurs during the implementation process and from improved training and qualification of employees.
- Better documentation or control of processes (for instance, having and following a formal quality manual) leads to consistency in performance, and less scrap and rework.
- Managers experience fewer late night troubleshooting calls; employees have more information for troubleshooting problems on their own.
Customer satisfaction increases are seen as Goals and Objectives take the customer needs into account.
- Customer needs are better understood as customer feedback is sought, received and analyzed.
- Goals and objectives are adjusted based on the information and the organization becomes more customer driven.
- As goals focus on the customer, the organization spends less time focusing on individual goals of departments and more time working together to meet customer needs.
All of this leads to financial rewards, your reward for your hard work and investment in the Quality Management System.
In a study conducted by researchers from UCLA results showed that “U.S. publicly held companies traded on the New York Stock Exchange that receive ISO 9000 certification show significant improvement in financial performance compared to those companies that have not pursued the standard.” By embracing the family of standards like 9000, ISO becomes a critical tool for overall profitability. Therefore the benefits of iso 9000 certification are undeniable.