Definition, Meaning & Synonyms
efficiencies
noun
/ɪˈfɪʃ.ən.siz/
Definition
Efficiencies refer to the ability to accomplish a task with a minimum amount of wasted effort or resources.
Examples
- By implementing new technology, the company was able to increase its efficiencies in production.
- The efficiencies of the new system led to decreased operational costs.
- Identifying inefficiencies in workflow can help improve overall productivity.
Meaning
The term indicates how well a process or system utilizes its resources, such as time, money, or materials, to produce the desired outcome or result.
Synonyms
- Effectiveness
- Productivity
- Competence
- Capability
