Productivity improvement tools used in the Industry-An Overview

Productivity is generally considered to be the efficient utilization of organizational resources and is measured in terms of the efficiency of a worker, company or nation.[1] Productivity is one of the widely used manufacturing performance measure and is essential for driving and managing production improvements[2]. Productivity relates to the efficiency of production factors in the production process. The higher the productivity, the lower the input, and consequently the lower the product cost [3]. The full benefits of productivity improvement measures are realized when productivity is examined from two perspectives: operational efficiency (output/input) of an individual worker or a business unit as well as performance (effectiveness) with regard to end user or customer satisfaction [1]. Productivity is an aggregated concept of overall efficiency/effectiveness of the organization concerned. Today most firms are interested in a strategic approach for improving productivity and quality in their organizations. Tools are playing vital role to increase productivity in the Industry.