A manufacturer's inventory is the amount of all the supplies and materials on hand to make a product. The inventory of retailers and wholesalers consists only of the number of items or goods ready for sale. Inventory for R&D and professional services organizations is billable person days. However, the inventory of the former two has a certain shelf life, and will rot or disappear if it is not used on the same day, but the inventory of the latter will disappear on the same day and contribute nothing to the organization's income if not used for direct or indirect billing work. Therefore, R&D and professional services organizations, and even white-collar organizations and service businesses, should use effective tools to manage the planning of their resources to maximize their revenue.
Not every employee can concentrate on their work. Effective time management can help every employee better plan their time, make them more focused on task goals, and reduce the following common wastes:
Many employees are occupied with social media platforms and interesting websites that distract them from doing must-dos, waste their time and reduce their productivity.
The way to deal with this is not to eliminate all social media, but to use time planning and tracking to allow employees to quantify the time they spend on different tasks each day and make some adjustments. Quantitative data on time tracking allows employees' immediate supervisors and project managers to see problems and alert employees promptly.
Some employees make the mistake of thinking that multitasking is a positive thing, but it just gives them the illusion of being productive and trying to get things done. In fact, they're putting their time and energy into context switching, rather than working on them at the same time.
Use time tracking to urge employees to self-regulate and let their bosses remind you to solve this problem.
Perfectionist employees lose their balance when problems arise. Perfectionist employees tend to set unrealistically high standards for themselves, which makes them overworked or sad when they don't achieve what they want.
Use time tracking to help employees make tradeoffs and allocate time appropriately to resolve issues.
Some employees agree to do everything and say "yes" all the time. These employees are not only dishonest to others, but also dishonest to themselves. Employees acknowledge that they don't have time for other tasks and focus on their current tasks.
Employees not saying "no" may be because the organization has not implemented time planning and tracking, and employees have no idea how much time they are occupied. What is worse, organizations fail to implement time-hour planning, and employees (especially recent graduates) fail to assess their workload (person-day) for the task at hand, so they say “okay” without knowing how much time they have left.
In view of the above situation, if Timesheet is used to plan and track the working hours, it is not only helpful to management, but greatly helpful to the training of employees.