Productivity Ratios Notes: Definitions & Explanations PDF | Download eBooks
Study Productivity Ratios lecture notes PDF with total quality management definitions and explanation to study “What are Productivity Ratios?”. Study productivity ratios explanation with TQM terms to review total quality management course for online MBA programs.
Productivity Ratios Definition:
Ratios that are used in measuring the extent to which a firm effectively uses its resources are productivity ratios.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Productivity Ratios Notes:
An efficient use of resources by an organization is very important. Efficient use helps to reduce costs, in short saves money. Productivity measures include single factor, multiple factor, and total factor productivity measures. Single factor measure indicates the ratio of the output of a process to a single input. Multiple factor productivity measure indicates the ratio of output of a process to the sum of multiple process inputs. Finally, total factor productivity measure indicates the ratio of process output to the sum of all production inputs. If an organization focuses on its productivity measures, it will definitely beat its competitors.
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