AllFreePapers.com - All Free Papers and Essays for All Students
Search

Improvement Best Practices for Global Financial Corporation

Autor:   •  March 26, 2017  •  Case Study  •  726 Words (3 Pages)  •  778 Views

Page 1 of 3

From     : PrideVel team

To          : Nancy Rodriguez

Subject : Improvement Best practices for Global Financial Corporation

Date      : March 19, 2017

______________________________________________________________________________

We understand that Global Financial Corporation (GFC) is facing a crisis situation where in a lot of time is involved in the current loan processing system which is designed in a way the head office wants it to be rather than how the division wants it in order to benefit from it.  The first step involves evaluation and analysis, where three teams are formed with two people in each team so as to handle applications from one of three regions as the head office believed this will enhance the efficiency if sales teams and analysis team will get to know each other. But this process seems completely useless as each region receives different number of applications of different difficulty level as per the throughput analysis having three same teams do not help in achieving efficiency. GFC sales representatives have also raised several concerns regarding delays in getting loan approvals, indicating that some cases have taken as long as 6-7 weeks. Statistics indicate that in the previous quarter, only 51% of applications were processed in 10 days or less.

We are also aware that GFC is facing a staffing problem. Requests to the corporate headquarters for additional staff have been denied indicating that it was not required and that the staff at the Bakersfield office is currently operating only at 86% capacity whereas they ought to be able to handle additional 10% increase in applications. Interest Rate Determination is the second step, which is a very simple step that requires just one person to give half of his time in this task, which raises the question can this process be integrated with any other process or not? Terms of the loan is the third step, it is that three teams with two persons should be headed by one person each and that each team should evaluate terms per region. Again each region has a different load of applications having same number of people for each region will not lead to efficiency.

...

Download as:   txt (4.1 Kb)   pdf (86 Kb)   docx (7 Kb)  
Continue for 2 more pages »