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Title : Managing a Bank's Currency Inventory under New Federal Reserve Guidelines
Date : Sep 10, 2007
Speaker : Neil Geismar, Assistant Professor
Affiliation : Department of Information and Operations Management, Mays Business School, Texas A&M University
Abstract
New currency recirculation guidelines implemented by the Federal Reserve System of the United States are intended to reduce depository institutions' overuse of its currency processing services. These changes are expected to have a significant impact on operating policies at those depository institutions that handle large volumes of currency. This study provides managers of depository institutions with optimal currency management strategies for all possible cost structures and demand patterns for the two most common business models for a bank's operations. Consequently, the Federal Reserve can use these results to fine-tune its guidelines in order to achieve its desired goals.
Biosketch
H. Neil Geismar is an Assistant Professor in the Mays Business School at Texas A&M University . He has a Ph.D. degree from the University of Texas at Dallas in Operations Management. His research addresses production scheduling, especially in the field of robotic cell scheduling; supply chain management, focusing on the coordination of the manufacturing and delivery functions through scheduling; and the currency supply chain in the United States . He has served as a consultant to industrial clients to improve their productivity and profitability. His papers have appeared in a number of journals, including INFORMS Journal on Computing, Manufacturing and Services Operations Management, Production and Operations Management, SIAM Review, and IIE Transactions . He is a member of INFORMS and of POMS.
