Question 3
Define “productivityâ€.
Compare single factor productivity measure with total factor
productivity measure.
What do we mean when...
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Operations Management
Question 3
Define “productivityâ€.
Compare single factor productivity measure with total factorproductivity measure.
What do we mean when we say productivity is a “relativeâ€measure?
Various financial data for the past two years follow. Calculatethe total factor productivity and the single-factor productivitymeasures for labor, capital, and raw materials for this company forboth years. What do these measures tell you about thiscompany?
Last Year
This Year
Output:
Sales
$201,005
$202,015
Inputs:
Labor
$30,010
$40,010
Raw materials
$34,775
$44,785
Energy
$4,870
$5,890
Capital
$49,700
$49,700
Other
$1,870
$3,005
Answer & Explanation
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4.1 Ratings (645 Votes)
a Productivity is the measure of production with respect to one or more inputs Productivity is calculated by dividing the output by one or more inputs Eg If an organization produces 120 units of a product by using 60 labour hours its productivity shall 120 60 ie 2 units per labour hour b A singlefactor productivity measure is productivity with respect to one input So if an organization is able to produce and sell products worth 1000 by using 500 of material cost the single factor productivity for
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