Dear Supriya, you have written that you are from a manufacturing company; however, what is your finished product? How many processes are involved until packing in the production?
To conduct a time and motion study, you need to hire an external consultant. It is not an easy task. In bigger companies, an exclusive department is tasked with studying the various processes and standardizing the time taken for each process. However, I doubt whether it is possible to do that in your company.
Your second question is about whether time and motion studies can be used for manpower planning. The answer is both yes and no. The answer depends on the complexity of the operations involved in the production.
Earlier, I had given my reply on manpower planning. Click the following links to refer to it:
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https://www.citehr.com/487204-produc...ml#post2133369
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https://www.citehr.com/457300-work-s...ml#post2046554
Thanks,
Dinesh Divekar