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Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. [1]
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
Improving operational efficiency begins with measuring it. Since operational efficiency is about the output to input ratio, it must be measured on both the input and output side. Quite often, company management is measuring primarily on the input side, e.g., the unit production cost or the man hours required to produce one unit.
Business leaders have a productivity problem. When it comes to measuring worker performance, organizations have usually relied on traditional productivity metrics to judge the success of an employee.
Operations management is concerned with designing and controlling the production of goods and services, [1] ensuring that businesses are efficient in using resources to meet customer requirements. It is concerned with managing an entire production system that converts inputs (in the forms of raw materials , labor , consumers , and energy ) into ...
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A most well-known measure of single-factor productivity is the measure of output per work input, describing work productivity. Sometimes it is practical to employ the value added as output. Productivity measured in this way is called Value-added productivity. Also, productivity can be examined in cost accounting using Unit costs.
The body of an Indian journalist who had reported on alleged corruption in the country has been found in a septic tank in Chhattisgarh state. Mukesh Chandrakar, 32, went missing on New Year's Day ...