Read the Case Study "Improving a commercial bank's operation performance through statistical process control" and respond to threaten discussion
1. The paper states that after elimination of special causes they observe that. The average cycle time and the variances (e.g. the distance between UCL and LCL) tremendously reduced, which were not only reflected in X chart, but in the R chart. "Review the control charts and discuss the causes of the performance improvements.
2. Think about your own operations. Can you identify opportunities to use the SPC control map to improve the operation performance?
A cross-border remittance process was selected by a Taiwanese bank to pilot the test application
of statistical process control (SPC). The results support the conclusion that the theoretical model
developed in the last century is also applicable in financial institutions. The main interest of this
research is to follow the success of the pilot case with three more work processes of the bank replicated SPC to further test its feasibility. The case of branch service counter processing, described in this article, proves that the adoption of SPC would easily detect special causes and common causes. Importantly, solutions would be easily generated based on the results of measuring process stability and capability. The case studies in this research reiterate that SPC is a powerful tool to improve a bank's operation performance..........................