Nitin Mittal Senior Manager, Assurance and Risk Advisory at Perfect Accounting .and shared services Pvt. Ltd. Read more…
The manufacturing sector in India, in the wake of digitization and technical innovations, has recorded quite an expansion in the last 5 years with automotive, pharmaceuticals, and capital goods taking the lead. With the business ecosystem becoming extremely complex and success parameters constantly in the state of flux, it is extremely challenging for the manufacturers across the twelve major prevalent categories to channelize their capital and manpower resources with utmost dexterity. According to the IDC, by 2020, a major percentage, say 50%, of manufacturers, will incur business value from the fourfold arms of service and product life-cycle management, supply chain, and operations. Industry veterans have pointed out that in recent time, technical interventions such as time tracking software has put in a new lease of life into the much-rugged sector through a seamless integration between resources and processes. So now, let’s take a quick look into the current challenges plaguing the entire manufacturing sector and how efficient time and resource management has transformed the entire ball game.
Manufacturing Sector in India: Challenges
Currently, the manufacturing sector faces certain major challenges and they are:
Solutions and Technological Interventions
Manufacturing is typically challenging because of the constant pressure of maintaining a production uptime 24×7. With the market teeming with competitors and market innovations galore, it is increasingly becoming tough to meet consumer expectations. Hence, it is more than important for manufacturers to identify software suite in the likes of online time tracking system and expense management system to channelize all possible resources and streamline tedious processes for increased business productivity.
Time and manpower are the two most important resources for all the industry verticals more so for manufacturing. The success in manufacturing depends on how perfect synchronization is brought between time and employee management. According to industry veterans, the best way to do that is by implementing a time and resource automation system.
Lets deep dive and understand how a time and attendance management system value adds to productivity.
Time tracking software suites are replete with features that enable the top line managers to have a better visibility of equipment, workforce and their working hours. The superior automation and analytics offered by the employee time tracking system deliver the critical resources from manual tasks of monitoring man hours and offers a clear picture of employee work allocation and task status. This helps the manufacturers identify areas of improvement and make well-informed decisions.
The modern time tracking systems effectively reduces administrative and human resource costs by automating the tedious backend processes. This automation enables the resources to focus on mission-critical tasks thereby, value adding to their work hours.
The employee user profiles appear as one of the features on the admin dashboard on the time tracking software and this helps the top line managers in resolving the task fitment issues. This helps in allocating the right task to the right resource, impacting the production efficiency directly.
Achieving compliance in terms of leave policies and work hours is a supercritical task to achieve in multiple production locations. This challenge can easily be mitigated by time tracking applications and system. The attendance automation helps in error-free calculation of the payroll. The leave management module that mostly comes as an inbuilt feature of the time tracking system ensures speedy leave approvals and correct evaluation of leave status. These seemingly trivial things act as a game changer when it comes to retaining resources.
The intuitive dashboards offered by the online time tracking software help the management to forecast and plan the budget as well as the future roadmap, armed with substantial data points.
Therefore, it is clear that time trackers empower the manufacturers to remain on the top of their production workflows and distribution schedules.