Industrial efficiency is defined as a manufacturer’s ability to produce a product at the lowest possible cost that will allow them to make a profit. To calculate the industrial process efficiencies, the cost of production per unit must be compared to the unit output of that product. Ideally, industrial processes should have a lower cost per unit of output to be deemed efficient in any manufacturing plant.
Efficiency can also be improved by limiting the number of wasted resources that are used to produce a specific product.
Read on to understand how industrial processes can be made more efficient.
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