Question: ( Prob . 2 ) Quick Loan offers customized loans. Consumers call a toll - free number with a specific loan request and obtain a
Prob Quick Loan offers customized loans. Consumers call a tollfree number with a specific loan request and obtain a response within an hour. Quick Loans business process includes five activities that must be conducted in the sequence described below. Three workers perform the whole process in a workerpaced line. The assignment of tasks to workers is the following: Worker activity Worker activities and and Worker activities and Each worker is paid $ per hour. Assume that there is unlimited demand and that loans are entering at the bottleneck rate.
Activity Answer customer calls and records key information minutesloan
Activity Gather and format the information eg obtain credit scores, organize customerspecific needs for analysis minutesloan
Activity Analyze the information: Check the creditworthiness and decide the loan amount and APR to offer minutesloan
Activity Perform final checks on the loan offer minutesloan
Activity Call the customer back with the new loan offer and close minutesloan
a What is the bottleneck in the process?
b What is the maximum number of loans the company can process per hour?
c What is the labor cost per loan?
d What processing time is required to process loans per hour?
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