Industrial Engineering
In industrial engineering, the efficiency factor is the relationship between the allowance time and the time taken, in the form of percentage.
Efficiency factors are used in performance rating and remuneration calculation exercises. The efficiency factor is an extremely simple to use and readily comprehensible index, the prerequisite being exact time management for maintaining the allowed times.
Read more about this topic: Efficiency Factor
Famous quotes containing the words industrial and/or engineering:
“The Enormous Room seems to me to be the book that has nearest approached the mood of reckless adventure in which men will reach the white heat of imagination needed to fuse the soggy disjointed complexity of the industrial life about us into seething fluid of creation. There can be no more playing safe.”
—John Dos Passos (1896–1970)
“Mining today is an affair of mathematics, of finance, of the latest in engineering skill. Cautious men behind polished desks in San Francisco figure out in advance the amount of metal to a cubic yard, the number of yards washed a day, the cost of each operation. They have no need of grubstakes.”
—Merle Colby, U.S. public relief program (1935-1943)