Operations Management 161 Cambridge Street Boston, MA 02114 ISOM H319-F Professor Kuo-Ting Hung Pengqia Chen, Taiei Ekawa, Jiaming Liu, Lauren Masaitis, Judy Wong
Aug 04, 2015
Operations Management
161 Cambridge StreetBoston, MA 02114
ISOM H319-FProfessor Kuo-Ting Hung
Pengqia Chen, Taiei Ekawa, Jiaming Liu, Lauren Masaitis, Judy Wong
Overview and Introduction● Long waiting time in queues --- direct impact on customer satisfaction
o Poses a challenge of operations management● Queue management systems
o Capture and analyze datao Provides an understanding of the customer service process
● Customer Service Queue at Bank of Americao Outputs, inputs, resources, and the appropriate measures for
management● Operational Analysis Objectives:
o Streamline the customer service processo Boost customer satisfactiono Increase productivity and efficiency of bank employees
StakeholdersAt The Time of Observation:● Bank of America Customers● 3 Bank Tellers● 2 Customer Service Representatives● 1 Greeter
Additional Stakeholders:● Competing Banking Services● Corporate Bank of America● Shareholders and Investors● Suppliers● Educational Institutions● Government● Communities● Non-Governmental Organizations
Operation
❖ Open Hours: 9:00 AM to 5:00 PM❖ Observed Time: 11:30 AM to 12:30 PM❖ Operation Process
➢ Front Desk (Greeter)➢ Individual Tellers ➢ Customer Service Representatives
❖ Waiting Period❖ Assistance Service❖ Departure
Initial Flow Diagram
Utilization Activity
Activities Available Time Required Time Utilization
Teller 1 60 mins 60 mins 100%
Teller 2 60 mins 52 mins 86.67%
Teller 3 60 mins 44 mins 73.33%
All Tellers 180 mins 156 mins 86.67%
CSR 1 60 mins 49 mins 81.67%
CSR 2 60 mins 41 mins 68.33%
All CSR 120 mins 90 mins 75%
Operational Analysis: Tellers● Teller#1: Busiest Teller, lowest in service, no time to do side-works, nice teller, good customer feedback1. Time Required: 60 mins Utilization: 100% Average Arrival Time: 2.50 mins2. # of Customers: 10 people Average Time per Customer: 6.667 mins/ person3. Total waiting time: 36 mins # of customers waiting: 7 people Average waiting time per customer: 5.14 mins
● Teller#2: Fastest Teller, average busy level, best teller, best customer feedback1. Time Required: 52 mins Utilization: 86.67% Average Arrival Time: 3.00 mins2. # of Customers: 10 people Average Time per Customer: 5.778 mins/ person3. Total waiting time: 52 mins # of customers waiting: 9 people Average waiting time per customer: 5.77 mins
● Teller#3: Most Available Teller, less customers, low utilized but not lazy 1. Time Required: 44 mins Utilization: 73.33% Average arrival time: 1.25 mins2. # of Customers: 8 people Average Time per Customer: 6.286 mins/ person3. Total waiting time: 34 mins # of customers waiting: 6 people Average waiting time per customer: 5.67 mins
● Overall Tellers: possible to become better 22/ 28 customers WAIT in the line, average waiting time: 5.55 mins Time Required: 156 mins Utilization: 86.67%
Operational Analysis: CSR● Representative 1: Above the average, highly utilized cause more waiting time, great customer
feedback 1. Time Required: 49 mins Utilization: 81.67% Waiting Time: 12 mins Average waiting time: 4 mins/ customer2. # of Customers: 5 people Average Time per Customer: 12.25 mins/ customer
● Representative 2: Young employee, required more time in service, low utilized work inefficiency
1. Time Required: 41 mins Utilization: 68.33% Waiting Time: 0 mins 2. # of Customers: 3 people Average Time per Customer: 20.50 mins/ customer
● Overall Representatives: possible to improve, change base on the busy level Time Required: 90 mins Utilization: 75% Total Customers: 8 people
Challenges and Solutions
Challenges● Efficiency● Utilization
Solutions● Implement a hybrid process
o Cross-train employees● Promote ATM usage● Increase number of employees
during peak hours● Promote/Increase Mobile App
usage
Solution Visual
Recommended Flow Diagram
Conclusion
● Measured the lobby performance and queue at Bank of America
● Calculated the utilization activity and flow
o Critical to Bank of America customers and is repetitive in nature
o Increase customer satisfaction
● Waiting lines tend to form even when a system is not fully loaded
● Waiting lines cause concern and are non-value added occurrences
● The goal of waiting line management is to minimize total costs
● Queue management systems allow companies to run more effectively
References● http://www.bankinnovation.net/2012/07/improving-customer-service-thro
ugh-lobby-management-technology/● http://about.bankofamerica.com/en-us/our-story/our-history-and-heritage.
html#fbid=1SfHshOhN_H● http://www.td.com/corporate-responsibility/crr-2010/our-approach/our-k
ey-stakeholders/index.jsp
Thank you!
Any Questions?