Track: Operations Management

Abstract

Abstract

Resource management is a prime factor among the various factors driving the industries. It is necessary to utilize the resources in best possible way. In service based industries human resources has the tremendous amount of importance, as they are the prime contributors in firm’s growth. The stakeholders in these service industries are interested to track the utilization of human resources, for tracking the budget they have invested in the firm. The project managers are responsible for utilization reporting of FTEs. This paper represents the detailed analysis of resource management in the pharmaceutical industries, it has found that the current utilization process has been impacted due to the cumbersome method, inefficient tools and these factors were creating excessive utilization of human resources to administrate the process. To streamline the process with ease in the handling, increased accuracy and optimum resource utilization are the primary objective of this work. For streamlining the process this report has studied the various optimization techniques for resource utilization through the available literature resources, the DMAIC Methodology was implemented to optimize the current process, with the help of Root cause analysis and SIPOC analysis. This work has also derived the key performance indicators to trace the work done by the resources and implemented the Project management dashboard to track and visualize the utilization on granular level. With the improvement adapted, this work has achieved cost saving of 62% and 59% of time utilized per week.Resource management is a prime factor among the various factors driving the industries. It is necessary to utilize the resources in best possible way. In service based industries human resources has the tremendous amount of importance, as they are the prime contributors in firm’s growth. The stakeholders in these service industries are interested to track the utilization of human resources, for tracking the budget they have invested in the firm. The project managers are responsible for utilization reporting of FTEs. This paper represents the detailed analysis of resource management in the pharmaceutical industries, it has found that the current utilization process has been impacted due to the cumbersome method, inefficient tools and these factors were creating excessive utilization of human resources to administrate the process. To streamline the process with ease in the handling, increased accuracy and optimum resource utilization are the primary objective of this work. For streamlining the process this report has studied the various optimization techniques for resource utilization through the available literature resources, the DMAIC Methodology was implemented to optimize the current process, with the help of Root cause analysis and SIPOC analysis. This work has also derived the key performance indicators to trace the work done by the resources and implemented the Project management dashboard to track and visualize the utilization on granular level. With the improvement adapted, this work has achieved cost saving of 62% and 59% of time utilized per week.