Workforce Strategy in a Manufacturing Company to Improve PIMS Value
Abstract
The workforce is a critical asset for a manufacturing company to remain competitive. However, the company faces significant challenges in managing its substantial workforce efficiently, such as rising expenditures driven by inflation, minimum wage legislation, and economic growth, which affect the PIMS (Profit Impact of Market Strategy) value. PIMS, a metric used to measure competitiveness by evaluating total blending volume per total expenditure, underscores the importance of controlling annual costs. With salaries, wages, and benefits constituting over half of these costs, a focused study on workforce and labor cost trends is essential. This study evaluates strategies to enhance the PIMS value by utilizing a mixed-method approach comprising both quantitative and qualitative data. The quantitative approach involves analyzing internal reports on workforce numbers, expenditures, and potential operational efficiencies. The qualitative approach involves studying events and phenomena within the company and analyzing them using scientific logic and descriptive methods through semi-structured interviews with managerial staff. This analysis employs the Business Model Canvas and SWOT analysis to obtain comprehensive insights. Finally, the study results will provide detailed analysis of workforce composition and costs, linking them to PIMS metric and offering strategic insights for workforce optimization. It contributes to the scientific understanding of workforce management, emphasizing data-driven decision-making and economic factor impacts, serving as a model for continuous improvement in workforce strategies.
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