efficiency

  

Definition

The comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.). It is an important factor in determination of productivity. See also effectiveness.

Use efficiency in a sentence

  • The designers needed to revise the product specifications as the complexity of its parts reduced the efficiency of the manufacturing process

    Was this Helpful?   (25)   (0)
  • Their efficiency on the assembly line was so great that the company was able to produce many more items than its competitors.

    Was this Helpful?   (25)   (0)
  • The efficiency of the production of cars was greatly improved by Ford and his development of the assembly line, in which each worker performed a specific operation and then sent the car to the next worker.

    Was this Helpful?   (25)   (0)
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/efficiency.html

Have a question about efficiency? Ask for help in the
Community
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z