A measure of
how much is produced to the resources used to produce it.
A product's
fitness for use; how well it succeeds in offering the features
that consumers want.
The dollar
value of goods and services produced relative to the resources
used to produce them.
The increase
in a nation's output in a given year over the previous year.
The process of
evaluating all work activities, materials flows, and paperwork
to determine the value they add for the customer.
A measure of
productivity that takes into account all types of input
resources: labor, capital, materials, energy, and purchased
business services.
A measure of
productivity that takes into account only certain input
resources
A partial
productivity ratio calculated by dividing total output by total
materials inputs.
A partial
productivity ratio calculated by dividing total output by total
labor inputs.
(GDP) The
value of all goods and services produced by a nation's economy,
excluding foreign earnings and income.
A partial
productivity ratio calculated by dividing total output by total
capital inputs.
(TQM) The sum
of all activities involved in getting quality goods and services
into the marketplace to satisfy customers.
The overall
degree of quality in a product or service; how well the product
performs or how well the service is performed.
The
consistency of quality from unit to unit of a good or service.
The concept
that quality belongs to each person who creates it while
performing a job.
The process in
which a company analyzes a competitor's products or services to
determine the improvements it should make in its own products.
(SPC)
Statistical analysis techniques that allow managers to analyze
variations in a company's production data.
Variations in
a firm's product that arise from changes in the inputs used in
the production process
A statistical
process control method in which samples of a product are
measured to determine the amount of process variation.
The boundaries
of acceptable quality in the production of a good or service.
A statistical
process control method in which the results of test sampling of
a product are plotted on a diagram that reveals when the process
is beginning to depart from normal operating conditions.
The critical
value on a control chart that indicates the level at which
quality deviation is sufficiently unacceptable to merit
investigation.
A method of
improving quality by assessing a firm current costs and
identifying the areas with the greatest cost&-saving
potential.
A total
quality management (TQM) technique in which groups of employees
work together as a team to improve quality.
The process in
which a company finds and implements the best practices of other
companies to improve its own products or services.
The endless
commitment to improving products and processes, step by step, in
the pursuit of ever&-increasing customer satisfaction.
The belief
that all employees are valuable contributors to a firm business
and should be entrusted with making certain decisions regarding
their work.
