ROIs - 9001

Question 1

Operational Efficiency Gains:

Answer 1

Streamlining Processes: Cost savings on labour, production & resources

Reduced Errors & Rework: Reduce the cost of claims & returns

Question 2

Increased Customer Satisfaction & Retention:

Answer 2

Higher Customer Trust: Costs 7x more to gain a customer than retain one

Reduction in Customer Complaints: Improved brand reputation

Question 3

Revenue Growth

Answer 3

New Market Access: Potential for larger contracts & government tenders

Competitive Advantage: Differentiates their business from competition

Question 4

Cost Reduction

Answer 4

Risk Mitigation: Avoids disruptions or quality issues that affect profit

Supplier Management: Reduce supply chain disruptions

Insurance Costs: Lower risk profile due to QMS systems in place

Question 5

Compliance & Avoiding Fines:

Answer 5

Regulatory Compliance: Reduced risk of non-compliance fines

Question 6

Employee Morale & Productivity:

Answer 6

Clear Process & Accountability: Raises productivity & reduces the likelihood of
leavers

Question 7

Reduction in Defects & Rework:
ISO9001 can lead to a _______ in the costs associated with ________.

Answer 7

20-40% reduction

defective products & fewer customer returns

Question 8

Reduction in Defects & Rework:
For an SME cost savings would be expected to be between ________

Answer 8

£50-500k annually

Question 9

Operational Efficiency & Revenue Growth:
It, on average, results in a ________ growth in operational efficiency & a _____ increase in employee work rate due to well-maintained processes

Answer 9

10-20%

10-15%

Question 10

Customer Retention and Satisfaction:
Reduces customer complaints by ______ after implementing ISO9001, creates ________ & increases customer retention rate

Answer 10

30-50%

good will in the market