Benefits of increasing productivity to the workers and management are as follows: For Management: It helps management:To earn good profit.
A Objectives of Productivity Measurement:To study performance of a system over time.To have relative comparison of different systems.
Productivity is a ratio of actual output (production) to what is required to produce it (inputs). Productivity = Output/Input
Recent Developments have taken place in the Field of IM:Several forces are significantly shaping management practices today.
Applications of industrial management are as follows: Pre-production Planning: Plant location, capacity planning, selection of machine.