Efficiency signifies a level of performance that optimises companies' processes to achieve the highest amount of output from the least amount of input.
A company's ability to maximise the utility of assets and equipment that are used for production in its factory or plant.
The level of optimised production to minimise the average volume of inventory required and hence, costs of excess inventory storage.
The amount of energy and water consumed, and emissions and waste produced by manufacturing operations.
The improved labour productivity by reducing the man-hours spent per task and/or enabling employees to perform a wider range of job functions.
Quality and Assurance reflects a company's desire to prevent defects in its products. Excellent performance in these areas strengthens customer trust, reduces costs of replacing faulty products and establishes a stronger reputation.
A company's ability to maintain optimal performance of its manufacturing processes, minimising deviations and irregularities from intended conditions.
A company's ability to ensure that the percentage of defective products remains low.
Safe working environments to reduce functional safety incidents and physical security lapses, and more resilient cybersecurity.
Speed to market enables companies to maximise sales, and greater flexibility allows companies to adapt quickly to changing consumer demands and reduce downtime in reconfiguring production lines.
A company's ability to respond quickly to changes in market volume demand.
A company's ability to augment its production easily while incurring low cost.
The length of time needed to develop or augment a product and deliver it to customers.