Digital Advertising Lecture for Advanced Digital & Social Media Strategy at U...
Operation Management final presentation
1. 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
2. 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 data
o Provides an understanding of the customer service process
● Customer Service Queue at Bank of America
o Outputs, inputs, resources, and the appropriate measures for
management
● Operational Analysis Objectives:
o Streamline the customer service process
o Boost customer satisfaction
o Increase productivity and efficiency of bank employees
3. Stakeholders
At 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
4. 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
7. 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%
8. Operational Analysis: Tellers
● Teller#1: Busiest Teller, lowest in service, no time to do side-works, nice teller, good customer feedback
1. Time Required: 60 mins Utilization: 100% Average Arrival Time: 2.50 mins
2. # of Customers: 10 people Average Time per Customer: 6.667 mins/ person
3. 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 feedback
1. Time Required: 52 mins Utilization: 86.67% Average Arrival Time: 3.00 mins
2. # of Customers: 10 people Average Time per Customer: 5.778 mins/ person
3. 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 mins
2. # of Customers: 8 people Average Time per Customer: 6.286 mins/ person
3. 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%
9. 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/ customer
2. # 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
10. 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
13. 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