In workplaces, efficiency or processes (ex. Lean Manufacturing or Kaizen) creates a greater output and/or saving money. While words like efficiency or economical implicitly suggest saved time, I'm trying to find a term that would condense "saving time and thus money" without losing the "thus money" semantic.
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Increased productivity implies greater return for the same time and money, but it emphasizes the gains in output rather than the minimization of waste. Are you specifically looking for the latter?– Nathaniel is protestingNov 6, 2015 at 18:20
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3Economical refers to both time and money: using the minimum required; not wasteful of time, effort, resources, etc: thefreedictionary.com/economical - gains in output due to the more economical production process.– user66974Nov 6, 2015 at 18:21
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@Nathaniel, I'm trying to emphasize gains in output deriving from minimization of waste (if that makes sense).– Bennett YeoNov 6, 2015 at 18:23
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2cost-effectiveness?– bibNov 6, 2015 at 18:37
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What's wrong with efficient? 'achieving maximum productivity with minimum wasted effort or expense.' {ODO}– Edwin AshworthNov 6, 2015 at 19:48
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4 Answers
optimize
: modify to achieve maximum efficiency in storage capacity or time or cost FD
OPTIMIZATION
Finding an alternative with the most cost effective or highest achievable performance under the given constraints, by maximizing desired factors and minimizing undesired ones. Business Dictionary
You maximize your profits and returns.
Make as large or great as possible: ‘the company was aiming to maximize profits’
[Oxford Online Dictionary]
Maximization of profits could be achieved by "saving time and money", minimizing cost and waste, increasing productivity/efficiency, laying off workers, etc.
I would use either shrewd or steward
Shrewd -
5 a : marked by clever discerning awareness and hardheaded acumen b : given to wily and artful ways or dealing
Steward -
someone who protects or is responsible for money, property, etc.
a person whose job is to manage the land and property of another person
To be more clear, you could use just describe the person as shrewd and both time and money, among other things, is already implied. Or you could just say that someone is a steward of time and money.
If we don't use our working time to earn money, we are in effect losing money.
