What
is productivity? How to measure and calculate it?
In
general terms productivity can be defined as the relationship between
outputs and inputs.
In
which sectors can be applied the definition of productivity?
This
definition of productivity is generic and applies in an enterprise, a
sector of economic activity or the economy as a whole. Productivity
can be used to asses or measure how much output can be extracted from
a given input.
What
is the mathematical representation of productivity?
Mathematically
productivity may be expressed by.
A
textile factory works eight hours per day manufacturing 100.000 pants
and 50.000 sweaters a month using 110000 and 75000 square meters of
polyester cloth, respectively. If the pants section of the factory
has 50 workers and the sweaters section 75, we can calculate the
productivity as follow:
Measure
of materials productivity
According
to the formula given before, the materials productivity may be
measured as the relation between the quantity of finished products
and the materials used in the process.
Therefore,
the productivity for the pants and sweaters lines of the factory are:
Measure
of labor productivity
The
labor productivity may be measured as the relation between the
quantity of finished products and the labor hours used in the
process.
Therefore,
the productivity for the pants and sweaters lines of the factory are:
The
productivity of any factor of production or input, can be measured in
the form we exemplify before.
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