The quality loss function indicates that costs related to poor quality are low as long as the product is within acceptable specification limits.

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Quality management is the process of overseeing activities and tasks to maintain a desired level of excellence. This includes determining a quality policy, creating and implementing quality planning and assurance, and quality control and improvement.  The International Organization for Standardization (ISO) is an independent, non-governmental organization that develops international standards for quality management. ISO 9000 is a set of standards that aims to encourage the production of goods and services that meet a globally-acceptable level of quality. The seven principles of quality... Show more

The quality loss function indicates that costs related to poor quality are low as long as the product is within acceptable specification limits.