Efficiency dictionary

The efficiency and productivity terms that come up when you run a business, defined in plain English and sourced.

B

The single slowest step that limits how much work can get through a whole process.

The habit of making many small, steady improvements rather than one big overhaul.

How long one item takes to get through a single step, from starting work to finishing it.

Any period when something that should be working is not.

The total time from a customer placing an order to receiving what they asked for.

Using software or machines to carry out a repetitive task people used to do by hand.

Agreeing one consistent way of doing a task so it comes out the same every time.

The amount of work a process actually completes in a given time.

Everything that has been started but not yet finished at a given moment.

The defined sequence of steps a piece of work moves through, and who does each one.

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