10 Questions
What is the formula for calculating multi-factor productivity?
Productivity = Output Labor + Material + Energy + Capital + Miscellaneous
In the context of productivity, how are output and inputs often expressed?
Output and inputs are often expressed in dollars.
What was the daily payroll cost for the old system with 4 staff working 8 hrs/day?
$640/day
What is the new labor productivity in titles per labor-hour for the new system with 14 titles produced per day?
.4375 titles/labor-hr
What is the old labor productivity in titles per labor-hour for the old system with 4 staff working 8 hrs/day?
.25 titles/labor-hr
How did the overhead cost change in the new system compared to the old system?
The overhead cost increased from $400/day to $800/day.
What resource inputs are considered in the calculation of multi-factor productivity?
Labor, material, energy, capital, and miscellaneous
Why is multi-factor productivity important for businesses?
It helps in understanding the overall efficiency and performance by considering multiple resource inputs.
What does the term 'total factor productivity' refer to?
Total factor productivity is another term for multi-factor productivity.
How is labor productivity typically measured?
Labor productivity is often measured as output per unit of labor input (e.g., titles per labor-hour).
Explore a case study on how a team of analysts at Starbucks continuously looks for ways to save time and improve productivity. Analyze the specific improvements made, such as eliminating credit card signatures, changing ice scoop sizes, and implementing new espresso machines.
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