Question 3 Little’s Law A bank is processing job applications. Typical processing time for one application is 4 weeks. The bank can process 5 applications per week. The department is trying to improve efficiency by reduce the processing time to 2 weeks. What is the reduction of applications under review after the efficiency improvement?
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Question 3 Little’s Law
A bank is processing job applications. Typical processing time for one application is 4 weeks. The
bank can process 5 applications per week. The department is trying to improve efficiency by reduce
the processing time to 2 weeks. What is the reduction of applications under review after the
efficiency improvement?
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