Hi Shan,
This is indeed the way to go: create a custom Factory Calendar for scheduling purposes. Here you can indicate the "working days" (Monday to Friday) on which the scheduling should take place.
This Factory calendar can be used in BW when scheduling the Process Chain as a periodic job, using the Factory Calendar with he setting to "move to the next workday" as explained in the working instruction.
I would like to draw you attention to one small but important aspect: where do you have to maintain the Factory Calendar? I suggest to use the same SAP system which you use to upload the Factory Calendars from (via t/code RSA1, Modeling perspective, Source System view). It is usually the ECC system.
You have to be aware that during an upload of Factory Calendars you will overwrite the entries of the respective tables. Suppose you maintain the "scheduling" Factory Calendar in BW, it can be lost during the upload from ECC.
Best regards,
Sander