In business, productivity refers to how efficiently factors of production, or resources, are converted into outputs such as products like goods or services.
Posts published in “PRODUCTION”
Product Service System Models offer a function of a product rather than the physical product itself. Focus on needs of consumers.
Sharing Models rely on offering services where customers share products, resources or assets rather than owning such items for themselves.
Product Life Extension Models aim to extend the life cycle of their products in order to reduce the use of finite resources needed to produce them.
Resource Recovery Models focus on recovering and reusing resources from waste streams. This can be done through a variety of methods in a sustainable way.
Circular Supply Models focus on replacing finite natural resources with renewable, recyclable and biodegradable resources in a sustainable way.
Circular Business Models (CBMs) focus on multiple-use resources and products which are reused and remain in the economy for as long as possible.
Traditional Business Models (TBMs) focus on single-use resources and products which are then discarded as waste.
Cell production adapts the assembly line by splitting the entire flow production process into self-contained units or product-focused work groups with full autonomy.
Mass customization means producing large quantities of products with slight variations to each product which is modified to satisfy individual customers’ requirements at mass-production levels.
Mass production (flow production) means producing a large volume of standardized products in a continuously moving process using a production line.
Batch production means producing a limited number of identical products in batches. Products in separate groups go through the whole production process together.
Job production means producing individual one-off items one at a time especially designed for the customer. Creating a customized tailor-made product.
Technological innovations in production involve applying the work of scientists and business researchers to develop new products, processes and solutions.
A change in production method can be caused by numerous reasons. Internal and external factors can push a company to change production methods.
One of the most important production decisions is the choice of production method and the factor inputs. What factors will influence the choice?