Are You Benchmarking Productivity and Cost of Your New Processes ?
Many consultancy organizations are predicting productivity increases due to digital transformation of manufacturing and business processes.
Industrial engineers have an additional task now. They have to provide benchmarking information to aid the design of new processes in their organization. The benchmarking information has to be gathered at process level, operation level and element level. The information is to be used appropriately. Element level information is the most useful. Information at process level may or may not be available for the processes of an organization.
After a new process is designed, industrial engineers have to evaluate it from the productivity perspective and try to benchmark it once again as possible. The benchmarking exercise can provide the leads for improvement at the time of next productivity improvement study.
2021
Productivity Is About Your Systems, Not Your People
by Daniel Markovitz
January 05, 2021
https://hbr.org/2021/01/productivity-is-about-your-systems-not-your-people
The coming productivity boom
AI and other digital technologies have been surprisingly slow to improve economic growth. But that could be about to change.
By Erik Brynjolfsson and Georgios Petropoulos
Productivity growth, a key driver for higher living standards, averaged only 1.3% since 2006, less than half the rate of the previous decade. But on June 3, the US Bureau of Labor Statistics reported that US labor productivity increased by 5.4% in the first quarter of 2021. What’s better, there’s reason to believe that this is not just a blip, but rather a harbinger of better times ahead: a productivity surge that will match or surpass the boom times of the 1990s.
Process Designers have to take note and design more productive processes.
https://www.technologyreview.com/2021/06/10/1026008/the-coming-productivity-boom/
Balancing Work And Family
Let’s Redefine “Productivity” for the Hybrid Era
by Jaime Teevan
September 09, 2021
https://hbr.org/2021/09/lets-redefine-productivity-for-the-hybrid-era
2023
RESEARCH REPORT
Machines of mind: The case for an AI-powered productivity boom
Martin Neil Baily, Erik Brynjolfsson, and Anton Korinek Wednesday, May 10, 2023
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