Talk About:  Caravels

question 98

Essay

Talk about:  caravels

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Definitions:

External Failure Cost

Costs incurred when a product fails to meet quality standards after being delivered to the customer, including returns, repairs, and warranty claims.

Appraisal Cost

The cost associated with evaluating or inspecting products or materials to ensure they meet the necessary quality standards.

Prevention Cost

Costs incurred to prevent defects in products or services, part of Quality Costs.

Internal Failure Costs

Costs incurred when a product or service does not meet quality standards before being delivered to the customer, including scrap and rework expenses.