Leverage Of Productivity Flashcards
An expression that has developed in parallel to the cost of quality and it represents the percentage of organization’s total capacity or effort that is being used to overcome the cost of poor quality
Hidden Factory
This award is USA’s highest presidential honor for performance excellenece
Malcolm Baldridge National Quality Award
Is the degree of excellence or superiority in kind of a product or service that meets and exceeds all requirements, standards, and specifications
Quality
Refers to the tools and equipment that organizations use to perform their work faster and easier
Technology
Defined as an output per worker or per hour worked. Factors that can affect labour productivity include workers’ skills, technological change, management practices, and changes in other inputs
Labor Productivity
The measure of how well physical capital is used in providing goods and services
Capital Productivity
A measure of economic performance that compares the amount of output to the amount of combined inputs used to produce that output
Multifactor Productivity
A management system that provides feedback on both internal business processes and external outcomes to continuously improve strategic percormance and results
Balanced Scorescard
Provides specific data to evaluate and enhance productivity and quality performance. These measurements help organizations and individuals track performance and identify areas for improvement
Typical Measurements
Measures the total number of defects and errors in the products or services produced
Defect Rate
A KPI that measures the performance and effort over an amount of available time for capacity
Resource Utilization
An approach used to determine customer rates based on the revenue required by a utility to fully recover design and development costs, operation and maintenance costs, depreciation, debt service costs, a return on equity for capital costs, and all fees and taxes all as approved from time to time
Cost Per Service
Refers to the overall process of arranging a workplace, systems, and equipment in a way that makes it easy for people to use them
Workplace Ergonomics
A system of maintaining standards in manufactured products by testing a sample of the output against the specification
Quality Control
A systematic and periodic observation of performance over time in order to develop or verify performance records, to uncover inefficient and ineffective practices, to identify needs or services, and most important, to detect underperformance timely to avoid further deterioration
Performance Monitoring
