2. Loan Approval Process Managers at First Community Bank are attempting to shorten the time it takes customers with approved loan applications to get their paperwork processed. Each activity is performed by a different employee. i. Approved loan applications first arrive at Step 1, where they are checked for completeness and put in order. This takes 15 minutes. ii. At step 2, the loans are categorized into different classes according

to the loan amount and type (personal or commercial). This takes 20 mins. iii. Then credit rating checking commences at step 3 and also in parallel, loan application data is entered for record-keeping purposes. Credit checking takes 15 mins while entering the application data into the system takes 12 minutes. iv. Finally, all the paperwork is finished and collated. This takes 10 minutes. Draw the process flow map. Find the theoretical flow time, and the capacity rate of the whole process (i.e. how many loan applications can be processed in an hour), and what is the bottleneck resource?