Question: You have an internship to evaluate the Mortgage Application Process at the The Last National Bank of Moneylenders. You find out that each employee is
You have an internship to evaluate the Mortgage Application Process at the The Last National Bank of Moneylenders. You find out that each employee is specialized to perform only one job in the process. After an initial review of the process with different employees on how they do their jobs, who they receive work from, and who they give work to, you come up with the Process Flow Diagram as shown below Accept mortgages Property survey CT = 90 min. Mortgage applications Completed applications Approved mortgages Yes Final approval CT = 15 min Credit report CT = 45 min Title search CT = 30 min. No Unapproved mortgages Finish processing a) What is the cycle time of this process? ** show your calculations and / or reasoning b) What is the throughput time of this process? ** show your calculations and / or reasoning c) What is the total labor content of this process? ** show your calculations and/or reasoning
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