TQM Exemplary Organization

Merrill Lynch Credit Corporation (MLCC)

Merrill Lynch Credit Corporation (MLCC) provides mortgage financial services. The
Company offers syndicated and bridge financing, asset-based lending, standby credit, commercial
real estate lending, and equipment financing services. 90 percent of its approximately 830
employees, known as partners, are located in MLCC's Jacksonville, FL headquarters.

As part of the Business Planning Process, each July senior managers translate the
company's Critical Few Objectives into performance measures for their CFOs. Wherein they
segment their market into current and potential customer in the basis of their asset levels and age.
To target and deliver suitable products and services, MLCC conducts extensive research. Its
"Voice of the Client" process identifies the factors that influence customer satisfaction for each
client category. The alignment of the company's operations and work groups is based on these key
criteria. Each of these indicators is then monitored and used to identify and implement changes.
The information about their customer is the most important asset for them. That’s why it is needed
to always be current and must be continually evaluated to identify what the customer needs and
what they might want in the future.

Customer concerns are thoroughly investigated, assessed on a regular basis, and reported
to MLCC regions. Process improvement teams design countermeasures in response to negative
trends and persistent problems. Any complaint is acknowledged within almost immediately, and a
resolution is received in no more than five business days. Client satisfaction levels of competitors'
clients are also utilized to assess and compare client requirements.

The outcomes of MLCC's focus on quality management and performance excellence prove
that it was a worthwhile investment. From 1994 to 1996, net income increased by 100%, above
the industry average. Key loan delinquency and write-off metrics compare favorably to the rest of
the sector.
 The most important element that distinguishes the MLCC is that it does what all businesses
should do: it listens to its customers, both existing and prospective. They continuously collect
relevant and current data in every field possible, providing them with ample resources to study
aspects of their business that give the performance metric. Furthermore, the way they handle client
complaints opens up new opportunities and learnings for the entire organization, all while
attending to and addressing the issue in a timely manner. As well as ensuring that the same
complaints do not occur again. Another element that sets the MLCC apart is how they examine
their clients' needs based on their competitors' satisfaction levels. Because of these qualities, the
MLCC has an efficient total quality management system.

I would advise the MLCC to continue their existing practice of continuously acquiring and
assessing data as a direct analysis in order to sustain total quality management in their business. In
addition to the analysis, I would also advise them to enhance their policies, procedures, and
management systems in order to have a more effective system that they can use for continuous
improvement, especially now that the economy has been impacted by the world's inevitable
changes in recent years. In addition, I would also recommend them to continue implementing their
organizational structure specifically with its efforts on continuous improvement on customer
service and solve shortcomings in a shorter time. It will be beneficial for them because this will
allow them to have more satisfied customers along with being able to sustain their current clients.
Vital for MLCC is to maintain their strong solid foundation that is sustainable in order for them to
sustain the process of continuous improvement that that they have currently started.