Definition of Efficiency:
A measure of productivity, with the goal being to maximum productivity with minimum wasted effort or expense.
A term denoting to the relationship between outputs and inputs. It requires generating higher outputs as related to inputs. It means enhancing productivity (i.e., less rework, fewer errors and optimal use of resources).
A term indicating the optimization of productivity (measured outputs over measured inputs) typically stated on a 0-100% scale. To improve efficiency, the productivity ratio must be improved (the input to output ratio must be decreased).« Back to Dictionary Index