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Measures of Productivity
In order to get the benefit to productivity we need to have measurements of productivity by regularly monitoring it . There are various ways for that.
In order to produce anything like notebook there are multiple inputs have been used like paper , and labour , finance is used in producing that output .
Are we using them well ?
Input (metres in fabric) output Production Productivity (output/input)
100 30 30 Denim Jeans 0.3
110 30 30 Denim Jeans 0.25
150 40 40 Denim Jeans 0.267
150 45 45 Denim Jeans 0.3
Checking the output with input only with single factor .Like Raw material called denim fabric so this is called as single factor productivity. When you compare the output with one single input.
Single factor Productivity - The denominator that is factor will change . In a factory let us say , The denim factory , Manufacturing Jeans and realising the productivity is going down , we can understand each factor separately , like labour hours . I can analyse the proportion . Each factor can be compared with previous factor to analyse .
Advantages -
1. Ease in opting relevant data
2. Act as good diagnostic
3. Ease in comparing with other business
Disadvantage -
1. Management may identify wrong areas.
2. Does not reflect overall performance .
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