The purpose of this article is to introduce a new cost management and decision support model. The current cost monitoring models act as real-time cost calculators rather than as decision support tools. The model presented in this study can monitor and analyse the costs in real-time. This will...

Purpose – The purpose of this article is to introduce a novel cost of quality (COQ) decision support model (DSM), which can help management to track the effect of changing each incorporated value added (VA) and non‐value added (NVA) activity on each other's cost as well as on the quality...