Question.1020 - Describe the differences between productivity and its subcomponents (total measure productivity, partial measure productivity, and multifactor measure productivity) related to production and operations management success.
Answer Below:
Productivity is a crucial concept in production and operations management that measures resource utilization efficiency in generating goods or services (Productivity Concepts and measures). It plays a significant role in determining an organization's success in achieving its production goals and profitability. Total measure productivity is the most comprehensive measure of productivity. It considers all inputs in the production process and compares them to the total output generated (Heizer et al., 2016). Total Measure Productivity = Total Output / Total Input where total output. Partial measure productivity focuses on a specific input in the production process and compares it to the corresponding output. Partial Measure Productivity = Output / Single Input Multifactor measure productivity, or total factor productivity, considers multiple inputs in the production process and compares them to the total output. Multifactor Measure Productivity = Output / Multifactor Input. References Productivity Concepts and measures (no date) Reference for Business. Available at: https://www.referenceforbusiness.com/management/Pr-Sa/Productivity-Concepts-and-Measures.html. Heizer, J., Reder, B., & Muson, C. (2016). Operations Management: Sustainability and Supply Chain Management JAY.More Articles From Operation Management
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