Hello Everyone,
I have posted previously about the need to obtain buy-in for FMEAs in order to successfully deploy DFMEAs and PFMEAs within the design and development processes.
In regards to metrics, what are some possible methods to calculate the potential financial savings of completing a well constructed DFMEA and PFMEA? In other words, If I calculate RPN values and through actions, I lower the RPN value, is there a way to calculate the potential savings? These metrics will be helpful in communicating to upper management the importance of these prevention tools.
Couple thoughts:
-Baseline the cost of a potential failure (This would have to be linked to likelihood of occurrence)
-Cost of reworking a product
-Cost of an escape to customer
Does anyone have any other financial metrics and methods of calculating them? I'm a little stuck in how to incorporate the above, so feedback would be valuable.
Thanks.
I have posted previously about the need to obtain buy-in for FMEAs in order to successfully deploy DFMEAs and PFMEAs within the design and development processes.
In regards to metrics, what are some possible methods to calculate the potential financial savings of completing a well constructed DFMEA and PFMEA? In other words, If I calculate RPN values and through actions, I lower the RPN value, is there a way to calculate the potential savings? These metrics will be helpful in communicating to upper management the importance of these prevention tools.
Couple thoughts:
-Baseline the cost of a potential failure (This would have to be linked to likelihood of occurrence)
-Cost of reworking a product
-Cost of an escape to customer
Does anyone have any other financial metrics and methods of calculating them? I'm a little stuck in how to incorporate the above, so feedback would be valuable.
Thanks.