Competitive Priorities

To make decisions in operations strategy the key is to determine what operations must be conducted to support the overall company's business strategy. "Competitive priorities are the critical operational dimensions that a process or supply chain must possess to satisfy its internal and external customers, both now and in the future. Competitive priorities can be arranged into four critical competitive capabilities, which are; "Cost (low- cost operation), Quality (consistent quality and top quality), Time ( Delivery speed, On- time Delivery, and Development Speed), and Flexibility (Customization and Variety)" (Krajewski, et al, 2013).  Due to the consistent changes and upgrades to innovation, the demand for services varies, therefore; Wells Fargo's competitive priorities change over time.

Wells Fargo main priority is exceptional quality service. “We want to satisfy our customers’ financial needs and help them succeed financially.” at Wells Fargo the primary commitment is client’s complete satisfaction while ensuring and protecting customer’s financial security. The quality of Wells Fargo is based on understanding customers financial needs and delivering quality service. 

 

To reduce cost Wells Fargo has modified periods of hours of operations in branch locations due to low client traffic. For example, the Wells Fargo branch in Seaside has recently close for Saturdays since there are very few clients from September to June; moreover, the branch also changed the hours of operation from 8:30 am - 6:00 pm to 9:00 am - 5:00 pm. Furthermore, Wells Fargo is implementing automatic services such mobile applications features that allows customers to have full access of account transactions. 

Technological innovations have provided Wells Fargo the opportunity to offer customers full accessibility to Wells Fargo services anywhere at any time; which results in a flexibility for the customer to be able to manage personal/ business accounts through different channels such as: branch locations, phone customer service, ATMs, Online and Mobile banking. Another Flexibility that Wells Fargo has recently implemented to their employees is “roving” positions; meaning that new hire employee is not necessarily working with one direct branch, instead the employee works week by week in multiple branch locations.