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2. (20 pts) One Hour Loan offers customized loans. Customers call a toll free number with a specific loan request, and obtain a response within an hour. One Hour Loan's business process includes five activities which must be conducted in the sequence described below. (The time required for each activity is shown in parenthesis):Activity 1: Answer customer call and record key information. (4 minutes)Activity 2: Gather and format the information (obtain credit scores, organize customer specific needs) for analysis (5 minutes)Activity 3: Analyze the information: Check the credit worthiness, and decide loan amount and APR to offer. (7 minutes)Activity 4: Perform final checks on loan offer (2 minutes)Activity 5: Call customer back with the new loan offer and close. (4 minutes)The whole process is conducted by three workers in a worker paced line. The assignment of tasks to workers is the following:W1 does Activity 1.W2 does Activities 2 and 3.W3 does Activities 4 and 5.a. What is the bottleneck of the process?b. How much time will it take to process 100 loans? (Assume that the process starts with a stable production line)c. What is the utilization of worker 3? (You can assume that the process operates at capacity and you do not have to consider any empty system effects)d. What is the average labor utilization of the workers? Assume the process operates at its capacity and there are no empty system effects.
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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