Total factor productivity (FTP),

Definition of Total factor productivity (FTP):

1. Measure of the efficiency of all inputs to a production process. Increases in FTP result usually from technological innovations or improvements.

How to use Total factor productivity (FTP) in a sentence?

1. We had to measure the efficiency of it, so we decided to implement a total factor productivity system to help us.
2. You should try and work in a way that has total factor productivity so that you know you are doing things the right way.
3. The total factor productivity was excellent as each team operated at their best ability so when combined the result was excellence.