Total Productivity at Firm Level: A Case Study of a steel Manufacturing Company in Osun State, Nigeria
Research Area: | Volume 4 Issue 1, Jan. 2015 | Year: | 2015 |
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Type of Publication: | Article | Keywords: | Labour Capital, Raw Material, Total Productivity, Total Input |
Authors: |
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Journal: | IJEIR | Volume: | 4 |
Number: | 1 | Pages: | 192-196 |
Month: | Jan.-Feb. | ||
ISSN: | 2277-5668 | ||
Abstract: | Productivity performance has always been an
important aspect in manufacturing. This measurement is
essential to benchmark and improve a company’s
performance. The total output could be regarded as the
measure of performance of manufacturing firm with labour
productivity as main contributing factor. This has led to
manufacturing firm neglecting other measures of
productivity. The total productivity of a steel manufacturing
firm was determined for a period of five years using Craig
and Harris model. The analysis carried out showed that
years 2005 and 2008 had the lowest and highest total
productivity level respectively. The computed partial
productivity for these years are Labour = 4.87; 4.98 Capital =
4.76; 5.60 Raw Material = 5.76; 6.38 while the productivity Pt
= 1.69; 1.85. The results revealed that labour cost is not the
only factors of production that determines total productivity
of a manufacturing firm; other factors of production such as
materials, capital, miscellaneous are as well major
determinant of productivity of such manufacturing firm.
Therefore, this research work could serve as guiding
information for manufacturing firms in determining their
productivity level without just focusing on labour cost. |
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Full text: IJEIR-1405_final.pdf
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