Productivity:: Industrial Engineering

 Productivity : Industrial engineering [Polytechnic VIth seme]

  Production :

                       The word production is made of word product.The process of making goods or services using various things/inputs (e.g: man,material, infrastructure, money, machine,etc) is called Production.

        It is the process in which various things, materials,inputs are combined to get a new product, output or service which have value.

   Productivity : 

                           As mentioned above, production is the process of producing goods or services but apart from it productivity is the measurements of this process.

     Productivity is the measure of efficiency of production or service.It is the ratio of final output to the input used.

    It is the ratio of final output to the various types of inputs (e.g.money,man, material, machine, infrastructure etc) in specific period of time.

     

    Productivity = Output/Input

It is an economy measurer which measures how many goods or services are produced by using various factors ( employee,cost/money, capital, infrastructure) in a specific period.

Difference between productivity and efficiency :

                            Basically in final value productivity is always greater than 1 whereas efficiency is always less than 1 (efficiency can never be 100%).