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:
“We agree fully that the mother and unborn child demand special consideration. But so does the soldier and the man maimed in industry. Industrial conditions that are suitable for a stalwart, young, unmarried woman are certainly not equally suitable to the pregnant woman or the mother of young children. Yet “welfare” laws apply to all women alike. Such blanket legislation is as absurd as fixing industrial conditions for men on a basis of their all being wounded soldiers would be.”
—National Woman’s Party, quoted in Everyone Was Brave. As, ch. 8, by William L. O’Neill (1969)
“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)