Total and partial factor productivity measurements, Operation Management

Assignment Help:

Total and Partial Factor Productivity Measurements 

Total factor productivity (TFP) is the best measure when describing national productivity, because it includes all the inputs used. The partial ratios only consider one input. For example the labour productivity ratio gives the labour input that created the GNP output even though changes in output may be due to increased utilisation of capital. Labour productivity figures are often used because the data is readily available. 

1. National productivity (total factor productivity) = GNP/labour and capital (usually calculated with one year and compared on a year by year basis) 

2. Capital productivity = GNP/capital 

3. Labour productivity = GNP/labour value or labour hours (Partial factor measurements)

We have looked at national productivity, now we will concentrate on productivity measurements for the firm. At the national level, there are total and partial factors in productivity measurement, it is the same at the level of the company.


Related Discussions:- Total and partial factor productivity measurements

Least cost methods, Least Cost Methods ( LCM): The NW corner rule describ...

Least Cost Methods ( LCM): The NW corner rule describe earlier consider only the availability and supply requirements in making assignments'. It take no according of the shipping

Explain how many people would you expect to be waiting, Suzy, a bartender, ...

Suzy, a bartender, can serve drinks at the average rate of one every 35 sec. During a hot evening recently, the bar was particularly busy and every 45 sec someone was at the bar as

Explain should people in all job categories be tested, If you believe that ...

If you believe that urine testing in some form might be acceptable, write down the outlines of sound testing program. Who should be tested? Employees? Job applicants? Should there

What are the classified different stock items, What are the classified diff...

What are the classified different stock items? The ABC system of inventory management Various stock items are classified as like: a. High value (A) b. Medium value (B

Draw a p-chart based on the questionnaire results, You are the newly appoin...

You are the newly appointed assistant administrator at a local hospital, and your first project is to investigate the quality of the patient meals put out by the food-service depar

Explain promote the transfer of new products across nations, 1. What trigge...

1. What triggered the new product strategy at Minnesota Bio labs? 2. What prediction would you make for the success of getting the country general managers in Europe and Japan to a

What is usefulness of flexible manufacturing systems, Q. What is usefulness...

Q. What is usefulness of flexible manufacturing systems to manufacturing operations? Flexible manufacturing systems (FMS) comprise a few machines with part and device handling

Define what are the steps and the benefits of a social audit, What are the ...

What are the steps and the benefits of a social audit?

Explain what is the average completion time of all jobs, A single machine w...

A single machine work center has five jobs assigned to it. They are labelled, in the order of their arrival in the shop, as jobs A, B, C, D and E. The work center may work on only

Define productivity percentage change for each category, 1 Eric Johnson mak...

1 Eric Johnson makes billiard balls in his New England plant. With recent increases in his costs, he has a newfound interest in efficiency. Eric is interested in determining the pr

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd