Operations Management - Managing Quality Essay Example | Topics and Well Written Essays - 500 words

Operations Management - Managing Quality - Essay Example Here are my recommendations for improving the speed and quality of loan requests department. Firstly, we should amend the loan approval procedure for consumers by categorizing consumers in two categories. First category should be of new customers or the people availing this service from us first time. Consumers availing this service from us second time or more should be constitutes the second category. The checking criteria for providing loan to the customers of first category should be very strict while people from second category should be provided loan to nearly previous amount of money checking the client's relationship with the bank in previous transaction or transactions. I also suggest changing the payment method of the loan underwriters from time period basis to the combination of time based salary plus incentive with respect to number of loan requests processed. In this way the loan underwriters will try to complete maximum number of loan requests in order to gain more incentive. Complexities and deficiencies in quality measurement are, in part, associated with the intricacies in defining quality and the varied application of the term. The term quality stands for a high level of quality in an economic terms but the term quality to explain fitness for purpose is the one that is most pertinent to the development of performance indicators for contracts.