Competitive environment around the globe makes manufacturer to produce a high quality product in affordable cost. With regulatory standards of agencies like FDA and ISO quality management has become an important business. Business marketers become successful only when they produce quality of product rather than quantity. It is a task of managing a product or service in most efficient manner thereby winning the customers loyalty repeatedly, helping business and organization to raise their productivity. Quality is a critical parameter which makes a distinction from competitors. It establishes changes in systems and processes helpful for superior quality and services. Some of the features of quality management includes inventory inspections, advanced quality process planning, and statistical process control cost of quality, audit trails, customer and material supplier analysis.
Various quality management models and system makes easier for any type of company to handle its quality issue efficiently. Total Quality Management (TQM) or six sigma have intent of producing high grade products by reducing defects in processes or systems. The Lean methodology the one adopted by Toyota for quality management, identifies the need of customers and thereby focuses in removing the non-value added processes. The software like QHSE (Quality, Health, Safety and Environment) risk and compliance software is one of the most widely used software by big companies in managing their tasks efficiently.
A happy customer to a greater extent leads more people to buy any item which has excellent quality. Increased quality concern issues, easy handling of complex processes, strict regulations of ISO, FDA, improved product quality, reduction in cost, increased customer satisfaction, defect reduction, increased market image drives the quality management market. Initial introduction costs i.e training people with new changes in process can sometimes restraint the market for quality management market to grow.
On the basis of quality management tools Quality Management market can be segmented as follows:- Cause and effect / Ishikawa, Check sheet, Control Chart, Histogram, Pareto Chart, Scatter Diagram, Stratification Diagram and Six sigma; On the basis of quality management principles Quality Management market can be segmented as follows:- Customer focus, Leadership, Engagement of people, Process approach, Continual Improvement, Evidence-based decision making and Relationship management; On the basis ofqualitymanagement system Quality Management market can be segmented as follows:- Quality planning, Quality Assurance, Quality Control and Quality Improvement
The global quality management market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. North America, Japan and Europe stands apart in quality management market due to adoption of advanced quality tools and methodologies with high standard of living. Asia Pacific and Middle East are expected to grow eventually higher in forecast period as they emerging at a fast pace.Key Players – QHSE Integrated Solutions, IQMS, Plex Systems, Etq Inc., Integrum Management Services, Integrated Quality Services Co. Ltd, SGS Company and Sparta Systems
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