This text provides informative, short introductions to the core concepts of Operations Management. This text contains more than 50 concept entries and is fully cross-referenced.An outstanding reference for Operations Management students at all levels.
Yield is the amount of valuable product that can be extracted from a process.
The concept of yield comes from the food production industry. Yield is the amount of valuable product that can be extracted from a process. Consider a milk factory for example. Fresh milk is delivered by trucks, stored in tanks, sent through pipes to filtering and pasteurising machines, through more pipes to storage and then sent from there to final packaging. When 1000 litres enter the facility, less than 1000 litres of packaged milk will be available. There could be leaks, process interruptions where some product is lost, and finally, a certain amount of residual milk will be left in tanks and pipes. This residual milk is typically cleaned to avoid contamination. ...