Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A small mortgage lender has one receptionist, four loan officers, and two office managers. When applicants apply for a new loan in person, they first

image text in transcribed
image text in transcribed
A small mortgage lender has one receptionist, four loan officers, and two office managers. When applicants apply for a new loan in person, they first fill out paperwork with the receptionist. Then the applicants meet with one of the loan officers to discuss their needs. The loan officer spends additional time processing the application after the applicants leave the office. Finally, the application must be reviewed by an office manager before it can be approved. The following table lists the processing times at each stage. The office is open for eight hours per day, five days per week. Resource Staffing (Number of Employees) Activity Time (Hours per Loan) Receptionist 1 1 Loan Officer 4 7 Office Manager 2 4 Round your answer to 3 digits after the decimal point if it is not an integer. Do NOT use comma in your numeric answers. The total resource capacity of all receptionists is loans per hour The total resource capacity of all loan officers is loans per hour The total resource capacity of all office managers is loans per week The process capacity is loans per week Where is the bottleneck? office managers (Receptionist, or Loan Officer, or Office Manager?) Assuming unlimited demand, the process flow rate is 20 loans per week % Assuming unlimited demand, the cycle time is hours per loan of the customer demand is 18 loans per week the utilization of the office manager resource is 90 Assuming that the office currently has no backlog of loans that it is processing, it will take the first loan hours to go through the process, and it will take the office a total of 20 hours to complete 10 loans

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Managerial Finance Brief

Authors: Chad J. Zutter, Scott B. Smart

8th Global Edition

1292267143, 978-1292267142

More Books

Students also viewed these Finance questions

Question

What is its position?

Answered: 1 week ago

Question

What are the organizations relationship goals on this issue?

Answered: 1 week ago