Short and ultra-short lasers are widely used for subtractive processes in modern advanced nano to microelectronics industry. i.e in manufacturing of data display units, interactive (touch) sensors, bio/ physical sensors– while at the same time connect to the internet things through a micro– millimetre–sized antennae. The integration of different components are only possible by precise and controlled processing. Laser subtractive processes require nanometre depth precision, micron lateral precision, minimal side wall thermal damage, minimal surface kerfs, no substrate damage and no contamination by nanoparticles. In this study, we optimize such processes by real time observations that detect layer removal and ablation mechanisms by optical emission based laser induced breakdown spectroscopy (LIBS). LIBS is a multi-elemental analytical technique, in which atomic and ionic characteristic emission lines are used to identify chemical composition of the target. This state of the art real time monitoring technique collect signals which originate from within the laser process interaction zone. Ultrashort laser pulses are used for the selective ablation of very thin layers, with precise stops at layer interfaces and minimal side-wall surface diffusion. This optical emission based technique is employed for real time monitoring in patterning, selective ablation and structuring of industrial materials like ITO, monolayer graphene and molybdenum, aluminum and molybdenum (MAM) based hetero-structures. Spatial resolution in the order of nm is achieved and experimental parameters (of laser, spectrometer and optics) are evaluated to optimize and apply it in industrial processing.