J.P. Morgan & Chase Company

Paper Summary:

This paper examines the operations management of the J.P. Morgan & Chase Company, the second largest international financial service provider in the world, according to the 16 principles of operations management. Operations management means making more with what you have and reducing wastes, in time, human resources and materials. It is responsible for maximizing the profits by reducing unnecessary costs and improving the speed and efficiency with which a company operates. It reviews each principle in turn from achieving a unified purpose to knowing the competition and the customer and then determines if indeed they do operate according to their mission and values statements.

From the Paper:

"J.P. Morgan had been following the eighth and ninth principles of maintaining old equipment before purchasing new. However, this produced many problems for them in terms of quality, consistency, computer and information transfer incompatibility problems and caused them to experience low levels of customer service. It became necessary to install a world wide integrated system using the latest technology. Now all of the branches and subsidiaries worldwide can communicate faster and more accurately. In many cases adhering to the eighth and ninth principles of quality management are good in terms of cost savings. "

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