...Hindustan Industries Limited Scenario: Case Facts * HIL’s plant is in a tax benefit zone and the head office is in Bombay. Since invoicing needs to be done out of the plant and major transport services (MOG) are out of Bombay, major coordination is required. * Truck turnaround time and area utilization are critical success factors in HIL’s capacity expansion plans. Objectives of HIL * Minimize turnaround time of trucks * Minimize number of checkpoints for truck drivers * Re-engineer processes and make effective use of automation where significant time reduction is achieved Analysis of Current Process at HIL Turn- around Time * Planned cycle time is 82 minutes but actual average time is 165 minutes Number of check points * Total number of delay points according to driver survey is 11. * Nine different documents need to be processed at 5 different locations. Pain Points * Gate No. 2, Vehicle Check and Gate 3 are the biggest delay inducing points according to drivers Time mismatches * Planned time from entry to warehouse is 18 minutes (10+2+6) wherein actual average is 43.36 mins and 38.36 for product 1 and product 2 respectively. * Time other than warehouse is planned to be 52 mins whereas actual average is 137.77 for Product 1 and 128.16 for Product 2. Marketing & Transport issues * Marketing office in Bombay places the dispatch orders. * For trucks dispatch there is communication between...
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...CORPORATE TURNAROUND Following diagram depicts the core meaning of turnaround strategy. Meaning of Turnaround Strategy The concept or meaning of turnaround strategy covers following points: 1. Turnaround strategy means to convert, change or transform a loss-making company into a profit-making company. 2. It means to make the company profitable again. 3. The main purpose of implementing a turnaround strategy is to turn the company from a negative point to a positive one. 4. If a turnaround strategy is not applied to a sick company, it will close down. 5. It is a remedy for curing industrial sickness. 6. Turnaround is a restructuring strategy. Here, a loss-bearing company is transformed into a profit-earning company, by making systematic efforts. 7. It tries to remove all weaknesses to help a sick company once again become strong, stable and a profit-making institution. 8. It tries to reverse the position from loss to profit, from declining sales to increasing sales, from weakness to strength, and from instability to stability. 9. It aids to reduce the brought forward losses of the loss-making company. 10. It helps the sick company to stand once again in the market. 11. It is a complete U-turn of a planned strategic economic transition. The definition of turnaround strategy w.r.t different senses is depicted below. In general, the definition of turnaround strategy can be stated as follows. “Turnaround strategy is a corporate...
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...review the need for a new position within the Transaction Services department for an Assistant Team Leader. A careful job analysis has been conducted through job performance review and associate interviews. Before the elements of the Assistant Team Leader are discussed, a quick background for the need for the position. Within the past three months, out processing rate to meet the SEC standards was down 3%. After reviewing the items that did not meet the turnaround time, it has been determined that 58% of these items would have met standard if the unit leader was not out of the office for an extended period of time. Many of these transfer requests were escalated for management review to the unit leader. Normally the unit leader would review the item the same day for disposition. With the unit leader out of the office, the items stayed in the escalate queue for over a period of several days. This caused the item to miss the turnaround time for a transfer. It is understood that if Computershare does not meet turnaround standards for two consecutive months, the fines levied by the SEC are substantial. We are now into the second month and a continued decline in processing rate would cause serious financial implications for the company. What was done to determine if the position would be successful is we had several experienced associates handle escalated items instead of the unit leader. Each associate was given the authority to make basic business decisions in regard to...
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...• St. Mary’s Hospital, located in Athens, GA, is a non-profit Catholic system whose mission is to be a compassionate healing presence in their community • St. Mary’s is a 199-bed facility that performs about 100,000 imaging procedures per year CUSTOMER CHALLENGES • Improve critical results delivery across the enterprise • Eliminate workflow challenges and decrease report turnaround time in cardiology department • Consolidate cardiology and radiol ogy PACS into one archive for easy image access via their EMR SUCCESS WITH MERGE • Customizable real-time worklists have improved results delivery and speed to treatment • Went from up to six days to one day for report-turnaround time with cardiology digital reporting • Consolidated silos and centralized storage so cardiology and radiology images could be accessed via their EMR and reliably stored in one location Since 2003, St. Mary’s, who performs about 100,000 imaging procedures per year, has selected five Merge solutions to help them address workflow challenges, improve report turnaround time, speed critical results delivery, and better execute image storage and management. “We believe that working with Merge for all of our enterprise imaging and interoperability needs helps St. Mary’s be a better provider. We have one number to call for any question, any issue. That simplifies my busy days and to be honest, I look at Merge as our partner…we’re in this together and they haven’t...
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...Branch Submitted to Prof. Devanath Tirupati Indian Institute of Management Bangalore By: Group Number 6 Vikash Oraon 0911283 Abhijit Pagare 1011076 Bharathi Priya 1011087 Bhargavi Konathala 1011089 Bhavika Kansara 1011090 Vishal Kumar 1011143 Manzana Insurance Introduction Manzana Insurance was started in 1902, and by 1953 had become the second-largest home and commercial property insurer in California. However, since the 1970's Manzana has been facing troubles from intense competition from the Golden Gate Casualty, as well as problems from an inefficient operating procedure leading to late issuance of policies, customer dissatisfaction, and defection of agents to other firms. Situational Analysis Recent complaints from agents about the turnaround time, percentage late figure and the poorly performing renewal business iterate the below average performance of the Fruitvale branch of Manzana. The following points were presented in the case. ? Around 76 independent agents represent Manzana at Fruitvale and dealt directly with the public. There was a difference in the commissions each agent received according to the policy request. ? Exhibit 1 gives an overview of the Operations flow across the four tasks that are performed for every policy request. O A RUN goes through all the four stages [Distribution, Underwriting, Rating and Writing] while a RAP and RERUN bypass the select and classify sub-stages of Underwriting. O After Rating, a RAP was returned back to the distribution clerk...
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...times. * We are required to upload your calls on the same day the call is completed. The appropriate time line should be: * 2 Visits – by 4 PM * 3 Visits – by 6 PM * 4 Visits – by 8 PM * No visits should be transmitted after 8 PM without authorization from the Me. I may set more stringent requirements, especially where YOU have repeated connection issues. * Tuesday and Thursday visits only unless approved by Me. * All visits require photos. Photo’s attached via Q Relay due to hand held camera issues need to be approved by Me. When we have handheld issues must call the help desk to have it repaired or replaced. All hand held issues should be resolved within a week to 10 days. This allows for turnaround time by the help desk. . * Make sure you are taking pictures on every visit!. * If we are unable to locate a title in stores you must immediately look up on hands, then call the Me, * Conference calls are mandatory. We are required to attend the bi-weekly conference calls and missing calls could result in termination. * Call me with any issues that will prohibit your attendance! * We are required to be in uniform and wear the “official mosaic” uniform to include Khaki pants, Black Mosaic Shirt, and name badge. Blue Jeans, sneakers, and sandals are not acceptable. * We are required...
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...Technology & Operation Management, GSM 430 Case Analysis Content: Manzana Insurance is a property insurance company that operates through a network of branch offices. It does not deal directly with the public but with independent agents who in return deal with the customers. Agents require Low turnaround time and fast renewal rates. Initial analysis of the second quarter performance figures of Fruitvale branch at Manzana Insurance indicates declining profits, poor operating performance and advancement of competitor Golden Gates. Further analysis was conducted to get to the core of the problem the management is facing and consequently, provide recommendations on how to go about these issues. Issues: * Low and declining Profits: During the first quarter of 1991, there was profit loss of ($ 174,000) which declined even further in the second quarter to ($121,000) (Exhibit 1). Reasons may include: * Due to high turnaround times (TAT) * Calculate by management to be 8.2 days * Causes agents to refer clients to other companies * Causes congestion and increased accumulation of policies * Due to reduced number of renewals (low renewal rates) because of increased volumes of late renewals * Due to focus on new policies only * Due to late policies * Late RERUNs amount to 99.67% of total late requests processed in 1991 which means it has a big impact on total...
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...Collapse University Course Professor’s Name Date of Submission Collapse Turnaround is a state that helps a company or an organization to recover financially that has been performing poorly for a longer period. An example of a company which has once experienced turnaround is The Spring leaf Holdings based in Evansville Indiana. The company deals with credit insurance and consumer lending. The company reported a loss of $1.3 billion during the 2007-2012 global financial crises. The turnaround came in 2013 whereby the company had to strategize on the right direction. It closed over 500 local branches and was forced to retrench 500 positions that included 140 of their Evansville headquarter employees. The company also continued to grow receivables per branch and reached that objective in the financial year 2014.That helped the company to drive Core Earnings up 42% from the previous 2013 financial year. Through gradual improvement, the turnaround was effective, and it improved the company’s profitability by 22 percent in 2014 financial year (Gilson, 2010). Some changes and developments are currently taking place in the field of HR management. HR policy is being defined and implemented to strengthen the performance of the company and develop the skills of employees to hasten its recovery. The purpose of implementing the policy of the HR is to prevent the company from collapsing. Managerial culture is being developed to put in place annual performance reviews, a training program and...
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...2) Analyze and assess the operations system of Manzana (system for processing insurance requests as depicted in Exhibit 2) by taking the following questions as a lead: a) How do the various jobs (RUN, RERUN, RAIN, RAP) flow through the system? How much time do they take? The figure below shows the flow through the system of the various jobs (RUN, RERUN, RAIN and RAP) taken exhibit 2 into account. The red numbers in the figure show the daily processed requests on average based on the data of 1991 which can be found in exhibit 7. The daily requests that are coming into the system are calculated by adding all various jobs (RUN’s, RERUN’s, RAIN’s and RAP’s) processed in the first 6 months and dividing this outcome by 120 (E.g. 6 months x 4 weeks x 5 days). This means that the teams can process 39 requests on average per day. (350+1798+451+2081)/(6*4*5) = 4680 / 120 = 39 requests per day on average. All further calculations can be found in the table below. |Task |Calculation in # of requests per day |Outcome in # of requests per day | |Calculate generated RERUN |(2081)/(6*4*5) |17.3 | |RUN/RAP/RAIN |(350+1798+451)/(6*4*5) |21.7 | |Total # requests per day |(350+1798+451+2081)/(6*4*5) |39 ...
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...of your choice, please introduce it in a concise manner. Conclusion: So what can you conclude from your search? Just in Time inventory system is where a company orders parts for their products when they are needed. The advantage of having JIT is that it eliminates the need to have inventory stored in a company’s own warehouse. It can actually maximize space if there is a need to expand production. With little need to have stored inventory, more production space can be created. Dell currently uses JIT inventory system when it comes to producing computers for their consumers. Some advantages of Dell using JIT are the fact that they have suppliers that will stand for the requirements that Dell have implemented for JIT, Short turnaround time from order to arrival, and productivity has increased. One downfall to Dell or any company with JIT inventory system is that the companies are reliant on just a select few of suppliers. Some problems may arise within the company that could put a stain on the relationship the company has with the suppliers. Dell is happy with the inventory system and has no plans on changing it any time...
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...[Type the company name] | AVON PRODUCTS CASE STUDY 1 | [Type the document subtitle] | | Pamela | [Pick the date] | Abstract Avon Products, Inc was a leading global cosmetics company, with over $8 billion in annual revenue in 2005. As the world’s largest direct seller, the company marketed to women in 143 countries via five (5) million independent Avon Sales Representatives. Avon product lines included numerous popular brand names, and an extensive line of costume jewelry and clothing. Although revenues increased in 2003, 2004 and 2005, Avon’s net income was $848 million in 2005. The company met with stiff competition in the US market from other cosmetic companies. In order to maintain its market share in the US while targeting other countries, especially China, the company drastically changed its global operating structure. This brought senior management closer to its key business geographies, strengthened global integration, accelerated information flow and positioned the company for sustainable growth. Avon expected to incur costs to implement these initiatives over the next several years, with a significant portion of the total costs to be incurred during 2006. Benefits from restructuring helped to fund a notable increase in consumer investment and improved the competitiveness of its direct selling opportunity. Additionally, the company increased investment in advertising, marketing intelligence, consumer research and product innovation. The cosmetics mogul...
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...Difference Between Efficiency and Effectiveness Efficiency refers to doing things in a right manner. Scientifically, it is defined as the output to input ratio and focuses on getting the maximum output with minimum resources. Effectiveness, on the other hand, refers to doing the right things. It constantly measures if the actual output meets the desired output. “Effectiveness” is also getting the right things done. This is where the efficiency is different than effectiveness. With efficiency, is to get the task done faster, easier, or better way. But with effectiveness, there always an initial question as to “what to do”? We need this measure for marketing activities and business processes since it helps us see when we are minimising resources or time needed to complete a process, i.e. we are keeping our costs low. In digital marketing, for example, efficiency involves increasing conversion rates and reducing costs of acquisition. It is still used in many large organisations and can still be used to today to help translate vision and strategy into objectives and then, through measurement, assessing whether the strategy and its implementation are successful. I’m a firm believer in shopping around for the best deal and I commend organizations that do so. My goal is to bust this myth open and expose the fact that focusing solely on efficiency is no longer sufficient to remain competitive in today’s business world. Corporate executives need to ask if their event portfolio has...
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...The Manzana Case Manzana Insurance- Fruitvale Branch Case Study The Manzana Case Manzana Insurance- Fruitvale Branch case study Executive Summary The Fruitvale Branch of Manzana is facing its bitter reality of declining profitability and potential loss of market shares to its main competitor-Golden Gates due to its rising renewal loss rate and expanding turnaround time. In our analysis, we dig into several issues that were possible causes for the problem and tend to provide readers with feasible solutions that may resolve the issues on hand. Examples of such issues as we have identified in the case include, but not limited to, various departments’ deviation from FIFO system, potential capacity and staffing problems, uneven workload among three underwriting teams, outdated SCT for computing TAT, and inaccurate computation process for TAT. In order to lower the number of late renewals and reduce turnaround time, our recommendations include, but not limited to, the following: 1) Making it mandatory for all departments to comply with the FIFO system and implementing monitoring plans for overseeing the entire underwriting process to ensure FIFO is strictly implemented; 2) Revising the incentive scheme for Fruitvale Branch employees to further assist with the successful implementation of FIFO system; 3) Expanding the number of days RERUNs are released to DCs prior to the due dates to ensure that there is sufficient time for relevant departments to complete the requests...
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...Manzana Insurance The Fruitvale branch is not faring well, they are behind competitor Golden Gate in new policies(375 to 326 in favor of Golden Gate), endorsements(300 to 206 in favor of Golden Gate), renewals (1,400 to 1,063 in favor of Golden Gate), turnaround time (2 days to 6 days in favor of Golden Gate), and renewal loss rate (15% to 47% in favor of Golden Gate) in the most recent quarter. The number of renewals, and endorsements at the Fruitvale branch are lower than they were for the same quarter the previous year, and the turnaround time, number of late renewals, and renewal loss rate have increased. The Fruitvale branch has performed especially poorly during the 1991. The main cause of the problems is that the Fruitvale branch processes RERUNS last because they are seen as less profitable than new policies. When RERUNS aren’t provided by the due date, it displeases customers and causes them not to choose to renew the policy with Manzana. In a market where prices are essentially identical, customers value the service they receive and how fast their requests can be processed. Therefore, since the Fruitvale branch is falling behind in this regard, the renewal loss rate is at a record high. Additionally, if a renewed policy is late, the insurance agent is likely to suggest another agency to customers, thus adding to the low retention rate. To make matters worse, only 15% of RAPs become RUNs, so they aren’t acquiring a large number of new...
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...receptive to the change process. The change process also needs to be implemented with open communication and the ability to hear constructive criticism and act on it. All sides need to be able to voice their opinions and be open minded to take any opinions and incorporate the ideas into the master plan if necessary. The Tales of Woe at Concord Bookstore describes how the owners of a bookstore in a New England town decided to change their business format in an every changing technical age of times. The way the owners went about implementing the change process was not done fully. The following will discuss some areas that were not completed. The writer feels the main process that was handled incorrectly was the turnaround process. “Turnaround looks at a company’s assets and seeks to manage them in a new way in order to stabilize cash flow, shore up the balance sheet, and maximize shareholder wealth.” (Spector, 2010). As employees of a company the focus usually is not about the bookkeeping aspect like how much profit was incurred today. The one thing that an investor will look at is how much profit is this particular business making, is this business one that I want to put my investments into. When looking at the bookstore in Concord their profits were decreasing people were going to bigger chain stores and relaying on technology to read books. This can also effect employees as it does the investors. When the employees do realize that the place...
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