Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed small mortgage lender has one receptionist, four loan officers, and two office managers. When applicants apply for a new loan in erson, they first fill out paperwork with the receptionist. Then the applicants meet with one of the loan officers to discuss their needs. he loan officer spends additional time processing the application after the applicants leave the office. Finally, the application must be eviewed by an office manager before it can be approved. The following table lists the processing times at each stage. The office is pen for 8 hours per day, 5 days per week. Round "Utilization rate" to a whole percent. Round "Cycle time" to 2 decimal places. Round "Utilization of loan officers" to 1 decimal place. a. What is the bottleneck of the process? b. Assuming unlimited demand, what is the process flow rate (in loans per week)? If customer demand is 18 loans per week, what is the utilization of the office managers resource? d. If customer demand is 18 loans per week, what is the cycle time (hours) of the process? e. If customer demand is 24 loans per week, what is the utilization of the loan officers? f. If customer demand is 24 loans per week, what is the cycle time (hours) of the process? Assuming that the office currently has no backlog of g. loans that it is processing, how long will it take to complete 10 loans? loans per week percent hours percent hours hours

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

Step: 3

blur-text-image

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

Understanding And Managing Public Organizations

Authors: Hal G. Rainey

4th Edition

047040292X, 978-0470402924

More Books

Students also viewed these General Management questions

Question

Define Decision making

Answered: 1 week ago

Question

What are the major social responsibilities of business managers ?

Answered: 1 week ago

Question

What are the skills of management ?

Answered: 1 week ago

Question

Writing a Strong Introduction

Answered: 1 week ago