What are the two basic measurements used to monitor quality and cost in advanced manufacturing?

In advanced manufacturing, monitoring both quality and cost is crucial for maintaining competitiveness and ensuring sustainability. The correct answer focuses on "Efficiency and Productivity."

Efficiency refers to how well resources (like time, labor, and materials) are utilized in the manufacturing process. It measures the output produced against the inputs used, highlighting the effectiveness of operations. High efficiency often means lower waste and reduced costs.

Productivity, on the other hand, looks at the total output produced during a specific timeframe. It evaluates the volume or units of products made and is essential for understanding how well the manufacturing process is performing. Increased productivity generally corresponds with higher levels of output without proportionally increasing costs, which further supports financial performance.

Both metrics—efficiency and productivity—are interconnected, as improvements in one often lead to advancements in the other, allowing manufacturers to achieve a balance between quality outcomes and cost effectiveness.

In contrast, the other options touch on relevant factors but do not encapsulate the core components for monitoring quality and cost in the context of advanced manufacturing as succinctly as efficiency and productivity do.