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Chase Manhattan Bank By South Group

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Chase Manhattan Bank By South Group Case: Chase has labor planning problems that address staffing needs over a specific time period. Goals: To minimize total daily ... – PowerPoint PPT presentation

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Title: Chase Manhattan Bank By South Group


1
Chase Manhattan BankBy South Group
  • Case Chase has labor planning problems that
    address staffing needs over a specific time
    period.
  • Goals To minimize total daily personal cost
    within the corporate policies and constrains

2
Chase Manhattan BankBy South Group
  • To solve the issues, we let
  • F0 Number of full-time tellers who dont work
    over time
  • F1 Number of full-time tellers who work 1 hr
    over time
  • F2 Number of full-time tellers who work 2 hr
    over time
  • A PT tellers who work 4 hrs from 9am to 1pm
  • B PT tellers who work 5 hrs from 9am to 2 pm
  • C PT tellers who work 6 hrs from 9am to 3 pm
  • D PT tellers who work 6 hrs from 9am to 4 pm

3
Chase Manhattan BankBy South Group
  • E PT tellers who work 4 hrs from 10 am to 2 pm
  • F PT tellers who work 5 hrs from 10 am to 3 pm
  • G PT tellers who work 6 hrs from 10 am to 4 pm
  • H PT tellers who work 7 hrs from 10 am to 5 pm
  • I PT tellers who work 4 hrs from 11 am to 3 pm
  • J PT tellers who work 5 hrs from 11 am to 4 pm
  • K PT tellers who work 6 hrs from 11 am to 5 pm
  • L PT tellers who work 7 hrs from 11 am to 6 pm
  • M PT tellers who work 4 hrs from 12 pm to 4 pm

4
Chase Manhattan BankBy South Group
  • N PT tellers who work 5 hrs from 12 pm to 5 pm
  • O PT tellers who work 6 hrs from 12 pm to 6 pm
  • P PT tellers who work 7 hrs from 12 pm to 7 pm
  • Q PT tellers who work 4 hrs from 1 pm to 5 pm
  • R PT tellers who work 5 hrs from 1 pm to 6 pm
  • S PT tellers who work 6 hrs from 1 pm to 7 pm
  • T PT tellers who work 4 hrs from 2 pm to 6 pm
  • U PT tellers who work 5 hrs from 2 pm to 7 pm
  • V PT tellers who work 4 hrs from 3 pm to 7 pm

5
Chase Manhattan BankBy South Group
  • Objective
  • Minimize (10.11)(7)F0
  • (10.11)(7)8.08F1
  • (10.11)(7)(8.08)(2)F2
  • (7.82)(4)AEIMQTV
  • (7.82)(5)BEJNRU
  • (7.82)(6)CGKOS
  • (7.82)(7)DHLP

6
Chase Manhattan BankBy South Group
  • Subjects
  • 9-10am (F0F1F2)ABCD gt14
  • 10-11am (F0F1F2)ABCDEFGH
    gt25
  • 11-12pm
  • 0.5(F0F1F2)ABCDEFGHIJK
    L gt26
  • 12-1pm
  • 0.5(F0F1F2)ABCDEFGHIJKLMONPgt
    38
  • 1-2pm
  • (F0F1F2)BCDEFGHIJKLMNO
    PQRS gt55

7
Chase Manhattan BankBy South Group
  • 2-3pm
  • (F0F1F2)CDFGHIJKLMNOPQRSTU
    gt60
  • 3-4pm
  • (F0F1F2)DGHJKLMNOPQRSTUV gt51
  • 4-5pm
  • (F0F1F2)HKLMNOPQRSTUV
    gt29
  • 5-6pm ( F1F2)LOPSTUV
    gt14
  • 6-7pm ( F1F2)PSUV
    gt9
  • 4(AEIMQTV)5(BFJNRU)6(CGKOS)7(DH
    LP)



  • lt 40(321)

8
Chase Manhattan BankBy South Group
  • Start QM for Windows
  • Select Module Menu
  • Select Linear Programming Menu
  • Select File Menu
  • Select New
  • Define Data set for Linear Program

9
Chase Manhattan BankBy South Group
  • Fill in data grid with problem data
  • Solve the problem by clicking the solve button

10
Chase Manhattan BankBy South Group
  • The solution can be viewed in the data grid

11
Chase Manhattan BankBy South Group
  • Use Excel Solver to solve the question
  • Step 1
  • Start Excel and create a new worksheet
  • Step 2
  • Enter Headings, variables, and coefficients for
    the objective function
  • Step 3
  • Enter cells where values of variables will be
    located, this is where solver will put the
    solution
  • Step 4
  • Write formula to compute left side constraints

12
Chase Manhattan BankBy South Group
  • Step 5
  • Enter right side constraints
  • The spread Sheet is now ready to run solver

13
Chase Manhattan BankBy South Group
  • Step 6
  • Click on Tools
  • then Solver
  • Step 7
  • Fill in Solver Parameters to match your Spread
    Sheet layout

14
Chase Manhattan BankBy South Group
  • Step 8
  • Set Solver Options as follows
  • Step 9
  • Solve the problem and Keep solver Values

15
Chase Manhattan BankBy South Group
  • Step 10
  • Review answer

16
Chase Manhattan BankBy South Group
  • DISCUSSION QUESTION
  • What is the minimum-cost schedule for the bank?
  • By utilizing QM for Windows and Excel Solver, we
    obtain the minimum-cost schedule for the bank is
    3,026.65

17
Chase Manhattan BankBy South Group
  • DISCUSSION QUESTION
  • 2. What are the limitations of the model used to
    answer question 1?
  • The model used to solve the problem suffers from
    the limitation that there are several optimal
    outcomes and a different answer may be obtained
    depending on the sequence in which the
    constraints are answered.

18
Chase Manhattan BankBy South Group
  • DISCUSSION QUESTION
  • 3. Costs might be reduced by relaxing the
    constraint that no more than 40 of the days
    requirement be met by part-timers. Would
    changing the 40 to a higher value significantly
    reduce costs?
  • Yes, changing the 40 to a higher value would
    significantly reduce costs. We provide the
    sensitivity analysis as follows

19
Chase Manhattan BankBy South Group
  • Changing to 60
  • Cost 2,485.83
  • Changing to 80
  • Cost 2,382.08
  • As the percentage
  • increases, the cost
  • decreases.
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