[ad_1]
Directions
Post a summary of your initial reactions to the case study and any
questions or concerns you may have about this case study or completing
the assignment. I will do my best to address any and all concerns
accordingly. (LO 1, 2, 3, 4, 5)
You may also watch the attached video captured by Adobe Creative
Cloud and comment on this week’s problem set. You do not need to have
Adobe Creative Cloud to watch this.
This is the case study
Review, analyze, and complete the Chase Manhattan Bank Case Study below.
The workload in many areas of bank operations has the characteristics
of a nonuniform distribution with respect to time of day. For example,
at Chase Manhattan Bank in New York, the number of domestic money
transfer requests received from customers, if plotted against time of
day, would appear to have the shape of an inverted U curve with the peak
around 1 P.M. For efficient use of resources, the personnel available
should, therefore, vary correspondingly. A variable capacity can be
achieved effectively by employing part-time personnel. Because
part-timers are not entitled to all the fringe benefits, they are often
more economical than full-time employees. Other considerations, however,
may limit the extent to which part-time people can be hired in a given
department. The problem is to find an optimum workforce schedule that
would meet personnel requirements at any given time and also be
economical. Some of the factors affecting personnel assignment are
listed here:
By corporate policy, part-time personnel hours are limited to a maximum of 40% of the day’s total requirement.
Full-time employees work for 8 hours (1 hour for lunch included)
per day. Thus, a full-timer’s productive time is 35 hours per week.
Part-timers work for at least 4 hours per day but less than 8 hours and are not allowed a lunch break.
Fifty percent of the full-timers go to lunch between 11 A.M. and noon, and the remaining 50% go between noon and 1 P.M.
The shift starts at 9 A.M. and ends at 7 P.M. (i.e., overtime is
limited to 2 hours). Any work left over at 7 P.M. is considered holdover
for the next day.
A full-time employee is not allowed to work more than 5 hours
overtime per week. He or she is paid at the normal rate for overtime
hours—not at one-and-a-half times the normal rate applicable to hours in
excess of 40 per week. Fringe benefits are not applied to overtime
hours.
In addition, the following costs are pertinent:
1. The average cost per full-time personnel hour (fringe benefits included) is $10.11.
2. The average cost per overtime personnel hour for full-timers (straight rate excluding fringe benefits) is $8.08.
3. The average cost per part-time personnel hour is $7.82.
The personnel hours required, by hour of day, are given in the following Table.
TABLE: Workforce Requirements
NUMBER OF PERSONNEL TIME PERIOD REQUIRED
The bank’s goal is to achieve the minimum possible personnel cost
subject to meeting or exceeding the hourly workforce requirements as
well as the constraints on the workers listed earlier.
Discussion Questions:
1. What is the minimum-cost schedule for the bank?
2. What are the limitations of the model used to answer question 1?
3. Costs might be reduced by relaxing the constraint that no more than
40% of the day’s requirement be met by part-timers. Would changing the
40% to a higher value significantly reduce costs?
Source: Adapted from Shyam L. Moondra. “An L. P. Model for Work Force
Scheduling for Banks,” Journal of Bank Research (Winter 1976): 299–301.
Label your completed file CS1 – Your Team’s Name (Team A, B, or C)
and upload it to Case Study 2 assignment. You do not need to write many
words, but you do need to answer all the questions above. If
you do not address those three questions in particular, points will be
deducted. Question 1 has 50 points, Question 2 has 20 points and
Question 3 has 30 points. Upload your file to this Case Study assignment.
Hint: For Question 3, please choose a hypothetical higher number,
say 45% or 50%, to illustrate your analysis and conclusion. You also
need to explain why. In some cases, you may use the “QM for Windows”
software (rather than Excel QM) to obtain the LP diagram to support your
finding. After solving your LP program, you may click on “Windows” and the select “Graphs”
to get to the graph output. You may then copy and paste any graph into
your word document. However, this option may not work in all cases.
Please discuss why.
Here is a link that discuss the approach to solution for Chase Manhattan Bank Case Study
(function() { var scribd = document.createElement(“script”); scribd.type = “text/javascript”; scribd.async = true; scribd.src = “https://www.scribd.com/javascripts/embed_code/inject.js”; var s = document.getElementsByTagName(“script”)[0]; s.parentNode.insertBefore(scribd, s); })()
Doc1.docx
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
[ad_2]Source link
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."
