Labour Productivity
Labour productivity is the amount employees are able to produce within a set period of time. The importance to businesses are outlined here.
Calculating Labour Productivity
Businesses want to track labour productivity trends over time. To do this, they must calculate labour productivity. Find out how to do the calculation here.
Improving Labour Productivity
Businesses must consider how to improve the labour productivity of employees in order to reduce costs. Explore how businesses improve labour productivity.
Inventory Management
Another method of reducing costs is by making sure inventory is carefully managed. Just in time (JIT) can be used as one tool to manage inventory more efficiently. Topics include:
The pros and cons of holding and not holding inventory,
Evaluating the use of JIT to manage inventory.
Quality
The quality of products and services provided to customers impacts businesses in many ways. The different methods of managing quality are examined. Topics include:
The importance of quality,
Quality control,
Quality assurance,
Total Quality Management (TQM).