Each bank teller workstation is forecasted to process 300 transactions (the end-item) on Friday. The bank is open from 9:00 a.m. to 7:00 p.m. on Friday with 90 minutes for lunch and breaks. Three teller windows are open on Friday. A work-study analysis reveals that the breakdown of the transaction mix is 40 percent deposits, 45 percent withdrawals, and 15 percent transfers between accounts. A different form is used for each type of transaction, so there is one deposit slip per deposit, one withdrawal slip per withdrawal, and two transfer slips per transfer.
The forecast is for 300 customer transactions during 8.5 hours on Friday at each of three teller station. Deposit, withdrawal and transfer slips are “dependent” upon forecast for the end-item (customer transactions).
a. How many transfer slips are needed on Friday?
b. How many withdrawal slips are needed on Friday?
c. Deposit slips are delivered every second day. If the on-hand balance of deposit slips is 50 at this bank, how many deposit slips should be ordered?
d. What is the end-item and component part is this bank example.
e. What are the implications of having too many or too few deposit, withdrawal, and transfer slips? Explain.