A
Interpretation: Application of Multifactor Productivity Ratio to identify whether the recent process improvement has any noticeable effect on the organization.
Concept Introduction: The multifactor productivity ratio consists of the productivity of a collection of inputs included in the production process. This is used to identify how efficiently an organization utilizes its operational resources.
B
Interpretation: Application of Labor Productivity Ratio to identify improvements in the organizations workforce.
Concept Introduction: The Labor productivity ratio consists of the productivity of the workforce, this measures the number of units the workforce is capable of producing within an hour. This is used to identify how efficient the workforce is.
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Operations Management: Processes and Supply Chains (12th Edition) (What's New in Operations Management)
- A property title search firm is contemplating using online software to increase its search productivity. Currently an average of 40 minutes is needed to do a title search. The researcher cost is $2 perminute. Clients are charged a fee of $400. Company A’s software would reduce the average searchtime by 10 minutes, at a cost of $3.50 per search. Company B’s software would reduce the averagesearch time by 12 minutes at a cost of $3.60 per search. Which option would have the higher productivity in terms of revenue per dollar of input?arrow_forwardDescribe the meaning of the saying productivity is a relative measure ?arrow_forwardThe manager of a crew that installs carpeting has tracked the crew’s output over the past several weeks, obtaining these figures: Compute the labor productivity for each of the weeks. On the basis of your calculations, what can you conclude about crew size and productivity?arrow_forward
- In as few words as possible, please define "balanced scorecard." How does it relate to the functioning of a business?arrow_forwardThe Wonderful Widget Company's earning have declined to the point where they need to reduce the number of employees from 1500 to 1440. Find the percent decrease in the company's workforce.arrow_forwardIn the balanced scorecard what initiatives can be used to support the Objective to "Increase Employee Productivity?"arrow_forward
- a cleaning company uses $20 of chemical ,$50 of labor and $10 misc expenses for each house it cleans. After some quality complaints the company has decisded to increase its use of chemical by 10%. by what percentage has multi factor productivity fallenarrow_forwardA cleaning company uses $10 of chemical, $40 of labor, and $5 of misc. expenses for each house it cleans. After some quality complaints, the company has decided to decrease to increase its use of chemicals by 50%. By what percentage has multifacetor productivity fallen?arrow_forwardAs part of a study for the Department of Labor Statistics, you are assigned the task of evaluating the improvement in productivity of small businesses. Data for one of the small businesses you are to evaluate is shown below. The data are the monthly average of last year and the monthly average this year. Labor: $9 per hour; Capital: 0.84% per month of investment; Energy: $0.80 per BTU. LAST YEAR THIS YEAR Production (dozen) 2,000 2,000 Labor (hours) 370 350 Capital investment ($) 20,000 23,000 Energy (BTU) 3,500 3,200 a) Determine the multifactor productivity with dollars as the common denominator for last year. The multifactor…arrow_forward
- Steve is a marketing intern at Home-Style Cookies. One of Steve’s responsibilities is to set up a booth at assigned grocery stores to hand out cookie samples to increase sales. Last Monday, Steve handed out 800 samples in 8 hours. On Friday, Steve was training a new intern, Mike, and together they handed out 800 samples in 5 hours. Calculate the labor productivity for each day; provide your answers. For which day was the labor productivity higher? What are some possible reasons for the productivity differences?arrow_forwardSome organizations may have detailed strategies for measuring product quality and customer satisfaction, but do not put the same emphasis on employee performance expectations. Discuss the possible consequences for an organization that does not use sound performance expectations as part of its performance management strategy.arrow_forwardWhat is the role of Top management productivity of a pharmaceutical company or industry? Please answer at your own easy words.arrow_forward
- Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub