ISO 9001:2015 is based on which fundamental concept?

The question asks to identify the fundamental concept upon which ISO 9001:2015 is based.

• First in First out (FIFO): This is an inventory management method, not a core principle of a Quality Management System (QMS).
• Process Approach: This is one of the seven quality management principles and a fundamental requirement of ISO 9001:2015. The standard emphasizes managing an organization's activities as interconnected processes to achieve consistent and predictable results.
• Just in time (JIT): This is a production strategy focused on minimizing inventory and increasing efficiency, not a foundational concept of the ISO 9001:2015 standard itself.
• Economic order quantity (EOQ): This is an inventory management formula used to determine the optimal order size, not a principle of a QMS.

ISO 9001:2015 is explicitly structured around the Process Approach, which involves understanding and managing interrelated processes as a system to contribute to the organization's effectiveness and efficiency.

The correct option is Process Approach.