The consumer loan division of a major bank wants to determine the size of the staff it would need to process up to 200 loan applications per day. It estimated that each loan officer can process a loan application in approximately 15 minutes. If the utilization of a loan officer is 0.70 (70 percent) and each loan officer works seven hours each day, how many loan officers would be needed to handle that volume of business? Round your answer up to the nearest whole number.  loan officers

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.