Productivity Measurement Solved Problems : Multi factor Productivity
In our previous text, we covered the basic solved problems based on productivity measurement highlighting the importance of single-factor productivity and multi-factor productivity. As we progress in the text, we will discover how important it is to measure process productivity and how it is proportional to the efficiency of the company. Productivity can be measured in a variety of ways, such as labor, capital, energy, material usage, and so on.
Productivity Measurement Problems
Here are the basic examples showing the changes in multifactor productivity when we make changes in labor and other factors with the introduction of new systems. In layman’s language, productivity is the ratio of outputs to inputs. In most cases, outputs are goods and services and inputs include resources such as material, labor, management, and capital. Therefore to improve efficiency, operations managers always focus on improving productivity. Today, we are sharing solved examples such as productivity Measurement solved problems based on multi-factor productivity.
Multi-Factor Productivity: Indicates the ratio of more than one resource (input) to goods/services produced (output)
P.M = output /more than one input = output / (capital + management + labor + material + energy + other)
- Answers for Unsolved Productivity Measurement Numericals
- Download PDF of Productivity Measurement Solved Problems
- Solved Problems on Productivity Measurement
Book Referred, in this case, is Operations Management by Jay Heizer and Barry Render
There are some points that one should keep in mind while working on numerical based on productivity measurement. These are
By observing the equation, we can improve productivity in two ways:
- Reduce the Input and keeping the output constant
- Reduce the Output and keeping the Input constant
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