Productivity Technology

A system for scheduling the manufacture of products and managing stock inventory that aims to optimize costs, minimize inventory and maintain a steady work flow. The modern production technology that might be used by a manufacturing business can identify production blockages and sense capacity constraints, and it does not usually operate at full capacity if sufficient inventory to meet demand already exists.
Productivity is an average measure of the efficiency of production. It can be expressed as the ratio of output to inputs used in the production process, i.e. output per unit of input. Productivity measures that use one or more inputs or factors, but not all factors, are called partial productivities. A common example in economics is labor productivity, usually expressed as output per hour. At the company level, typical partial productivity measures are such things as worker hours, materials or energy per unit of production. 

Productivity is a crucial factor in production performance of firms and nations. Increasing national productivity can raise living standards because more real income improves people's ability to purchase goods and services, enjoy leisure, improve housing and education and contribute to social and environmental programs. Productivity growth also helps businesses to be more profitable.