Labor Cost And Human Error With Automatic Asset Tracking

By Author: Jagadesh Jayakumar
Total Articles: 9
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How to calculate a labor cost ?, Labour cost = total sales x labor%, divide by average hourly rate. What if Labor cost is more than Total Sales? Is it healthy? Considering labor cost as factor in an organization is a healthy factor or not? Stream lining labor cost still remains on top agenda for any organization. Cost effective factor influences the growth of an organization,.
Any organization that has cost effective strategy on top of agenda will first make sure they have cheap labor and better quality, This is where outsourcing takes a major role. Now the question is can every aspect of the business be outsourced for eg can Asset Tracking in a Asset management company be outsourced. If yes how? If no why?. The answer is No. There are few aspects in a business that can never be outsourced however there is an alternate option which the best asset management companies adopt.
Yes Technology. Upgrading the technology for stabilizing and automation is possible that does give us a measurable impact on labor cost , Apart from being a cost-effective it also increases the reliability and accuracy in every stage or level ...
... of Asset Tracking process. There are very few companies invest on this piece and they do really have an convincing edge among the competitors.
Having something that our competitors do not have is also a qualifying metric from customer perspective decision making for business relationship. These few companies that uses this as an USP (Unique selling proposition) to attract new customers or expansion.