Within engineering and manufacture, efficiency is one of the most sought after traits of every aspect of these industries.
The main reason behind the need of efficiency is that these areas are industries, and that money powers their operations. Without money there is no industry. A more efficient engineering solution, or a more efficient manufacturing line will, as a by product also be more efficient in its use of money.
If one way costs less to do than another, the cheaper way will be chosen. Of course there are other elements to the choice of method. Quality, safety, regulations, feasibility, are all factors that operations managers contend with. But the cost will always be seen on a certain level against these aspects.
Efficiency is also an important aspect when concerning the amount of materials used. Using less materials, more efficiently will ease production costs as well as the workload on other areas of the industry.