The learning curve shows that if a task is performed over and over than less time will be required at each iteration. Historically, it has been reported that whenever there has been instanced of double production, the required labor time has decreased by 10 or 15 percent or more.Learning curves are also known as experience curve, cost curves, efficiency curves and productivity curves. These curves help demonstrate the cost per unit of output decreases over time with the increase in experience of the workforce. Learning curves and experience curves are extensively used by organization in production planning, cost forecasting and setting delivery schedules.
A learning curve is a plot of proxy measures for implied learning (proficiency or progression toward a limit) with experience.
◇The Horizontal Axis represents experience either directly as time (clock time, or the time spent on the activity), or can be related to time (a number of trials, or the total number of units produced).
◇The Vertical Axis is a measure representing learning or proficiency or other proxy for "efficiency" or "productivity". It can either be increasing (for example, the score in a test), or decreasing (the time to complete a test).
The most used model is that developed by T.P.Wright and as per this model, as the number of units produced doubles the learning curve applies. It is denoted as a percentage. For example, if a product takes 100 hrs to produce a certain unit of product and the learning curve is 80%, then it will take 80 hrs (100 hrs × 80%) to produce 2 units (1 unit × 2) and for producing 4 units (2units × 2), it will take 64 hrs (80 hrs × 80%).
The concept also has it drawbacks. It does not consider factors like boredom, urge to do something new, etc under consideration which may lead to reduction in the efficiency stated as per the learning curve.
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