product (noun, prod-uct, /ˈprɑːdʌkt/) assurance (noun, as-sur-ance, /əˈʃʊrəns/)
Definition: is a verification made by a management function, which involves the satisfaction of customers’ requirements by ensuring a number of specific conditions. These conditions include identifying the critical activities, making available the required resources that are needed for each activity, and ensuring that these resources are implemented in the most effective and efficient way. To perform a product assurance function, various methods may be applied and will depend on the specific field that the given business is operating in. Audits, analysis, and assessments are common processes that help firms and businesses ensure the satisfaction of customers’ needs.
In a Sentence:
- The major components of product assurance may include the cost and quality management and the application of the reliability tools.
- Product assurance may be applied to any aspects and stage of a product development, including both software and hardware aspects.
Synonyms and related words: management function, technical assurance, assurance, supplier quality assurance, compliance assurance, quality assurance
