Productivity

PRODUCTIVITY

Description also available in video format (attached below), for better experience use your desktop.

Introduction

·       It is the output of any production process, per unit of input

·       If you wants to know the real meaning of  productivity than it mean to produce more with less

·       In term of an industry, the productivity is the ability to make goods & services from a specific amount of

o   Labor

o   Capital

o   Material

o   Land

o   Knowledge etc

 

Productivity Equation

·       Productivity = Output/Input

o   Output (product quantity)

o   Input (resources)

·       Example

o   Simran produce 10 products by spending 1000 rupees

o   Abdullah produce 10 products by spending 2000 rupees

o   Simran’s productivity = (10/1000) = 0.01

o   Abdullah’s productivity = (10/2000) = 0.005

o   Hence it can be easily stated that the productivity of Simran is very high in comparison to Abdullah

 

Productivity Types

·       Partial Productivity

o   When resources of productivity measured on separate basis

o   The best example is the measurement from Apple to Apple

o   Partial Productivity = (Output in a given period/Labor hours used in a period)

·       Total Productivity

o   Provides systematic framework and structure to an organization & increase profitability

o   Total Productivity = (Total output/Total input)

 

Factors Affecting Productivity

·       Marketing Policy

·       Failure to the standardization

·       unsatisfied Customers

·       Unplanned flow of work

·       Poor supply of material & equipment's

·       Improper machine maintenance

·       Insufficient measures

·       Poor working condition

 

Techniques to Improve the Productivity

·       Pareto Analysis

·       Ishikawa Diagram

·       Check sheets

·       Histogram

 

Productivity Benefits

·       Increases the profitability and Income

·       Lowers out the running & operational cost

·       Optimum utilization of all resources

·       Gains out the greatest share of the market

·       Increase the opportunity & growth

 

Video Description

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