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Productivity is the relationship between a given amount of output and the amount of input needed to

Productivity is the relationship between a given amount of output and the amount of input needed to

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Productivity  is the relationship between a given amount of output and the amount of  input needed to produce it. Profitability results when money is left over from sales after  costs are paid. The expenditures made to ensure that the product or service meets  quality specifications affect the final or overall cost of the products and/or services  involved. Efficiency of costs will be an important consideration in all stages of the market  system from manufacturing to consumption. Quality affects productivity. Both affect  profitability. The drive for any one of the three must not interfere with the drive for the 
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Unformatted text preview: others. Efforts at improvement need to be coordinated and integrated. The real cost of quality is the cost of avoiding nonconformance and failure. Another cost is the cost of not having quality—of losing customers and wasting resources. As long as companies continually interact with their customers and various partners, and develop learning relationships between all levels of management and employees, the levels of productivity and quality should remain high....
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