My organization is a financial institution. Majority of our transactions has to do with moving funds from one location to another as instructed by the customer. Strategy is “ a deliberate search for a plan of action that will develop a business’s competitive advantage and compound it” (Montgomery and Porter 1991). Due to the kind of service we offer, we tend to invest heavily in Information Technology to enhance efficiency and seamless transactions as most strategies we deploy depend heavily on the effectiveness of these IT platforms.
Customers want to be able to handle all their transactions by the click of a button and this is where lean and agile logistics aids the organization by the use of Information technology to give the customer this versatility, convenience and speed. Green logistics is also practiced here because paper used in banking hall transactions are minimized when customers handle their transactions online. Also, some level of transaction approvals are done online thus reducing a high percentage of paper usage which leads to preservation of more trees. (Week one lecture notes)
Our kind of environment makes it mandatory for customers to trop into the branches towards the weekend, it now falls on our cash management team to make sure that excess and deficit cash is distributed evenly and timely at branches where cash pick up and drop off is being carried out. Due to the kind of cash dependent economy we operate in , some high net worth customers do not inform us of intended huge withdrawals, in situations like this we immediately look for branches with excess vault limit that we can perform an authorized cash swab with instead of waiting for the cash management team to arrive according to their own schedule.
The distribution of account opening packages and the movement of marketing personnel of the bank have to be