efficiencyef·fi·cien·cy /ɪˈfɪʃənsi/ noun [uncountableU]MANUFACTURING1how well an industrial process, factory, or business works so that it produces as much as possible from the time, money, and resources that are put into itA successful business constantly strives for greater efficiency.
The increase in profitability is the result of improved efficiency.
2how well and quickly a person or machine worksHe was impressed by the speed and efficiency of the Japanese trains.
I had to admire his efficiency.
3cost efficiency/fuel efficiency etc when something costs as little as possible, uses as little fuel as possible etcAuto makers will increase the fuel efficiency of their cars by 20% over the next five years.
→ economic efficiency → industrial efficiency → technical efficiency