Uses of time study

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What are the benefits of time study?

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The following advantages of time study can be recorded:
(i) It provides basis for incentive wages plans. Standard time for performing the job is fixed through this technique. Incentive wages are given only if the worker performs the job earlier than ihe standard time.
(ii) It shows up ineffective time during the operation due to the operator and the machine. The steps can be taken to remove it.
(iii) It provides basis for planning and scheduling of product.
(iv) It estimates for tenders, selling prices etc. because time element in cost can be determined and thus labour cost can be ascertained easily.
(v) It sets up standards for machine utilisation and labour performance.
(vi) Standard labour cost can be fixed with the help of time study.