Maintain a reliable and stable process Operations for Goods and Services

Maintain a reliable and stable process operations for

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Maintain a reliable and stable process Operations for Goods and Services Services – Economic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and health services) Manufacturers produce tangible product, services often intangible Operations activities often very similar Distinction not always clear Few pure services Productivity Challenge Productivity is the ratio of outputs (goods and services) divided by the inputs (resources such as labor and capital) Production is a measure of output only and not a measure of efficiency Productivity = Units Produced / Input Used Measure of process improvement Represents output relative to input Only through productivity increases can our standard of living improve Labor Productivity Productivity = Units Produced / Labor-Hours Used Multifactor Productivity Multifactor = Output / Labor + Material + Energy + Capital + Miscellaneous Measurement Problems Quality may change while the quantity of inputs and outputs remains constant
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  • Spring '08
  • levi
  • Management, Multifactor productivity

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