Strategic Borrowing: Optimizing Custom Holdings to Reduce Turnaround Time for Loans

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Discover strategies for optimizing your Custom Holdings to take better advantage of InfoExpress libraries and other free lenders. Discover how one library dramatically reduced turnaround times for loans simply by restructuring and updating Custom Holdings data.

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Strategic Borrowing: Optimizing Custom Holdings to Reduce Turnaround Time for Loans

  1. 1. STRATEGIC BORROWING Optimizing Custom Holdings to Reduce Turnaround Time for Loans Alison Johnson, Assistant Library Directory Lewis A. Jackson Library April 25, 2014 - Discovery To Delivery V Image courtesy of KROMKRATHOG / FreeDigitalPhotos.net
  2. 2. GAME PLAN  Custom Holdings Basics  Our Story  Our Strategy  Our Process  Assessment  Further Considerations
  3. 3. CUSTOM HOLDINGS BASICS What are Custom Holdings?
  4. 4. CUSTOM HOLDINGS BASICS
  5. 5. CUSTOM HOLDINGS BASICS Indiana Libraries Out-of-State Free Out-of-State $10 Out-of-State $15 Out-of-State $20 GROUPS PATH
  6. 6. CUSTOM HOLDINGS BASICS Indiana Libraries (I3U,IBS,IDU,IE0,IEC,IEP,IFC…) Out-of-State Free (ZRV,ZRW,ZS#,ZS6,ZSV,ZSX…) Out-of-State $10 (EPY,EQ$,EQQ,ERR,ESJ,EU2…) Out-of-State $15 (ROL,ROZ,RRB,RRO,RS3,RTI…) Out-of-State $20 (JAT,JAW,JAX,JAY,JAZ,JB4…) PATH GROUPS
  7. 7. CUSTOM HOLDINGS BASICS Indiana Libraries Out-of-State Free Out-of-State $10 Out-of-State $15 Out-of-State $20 Free & Electronic Delivery Free & Fax/Mail $10 & Electronic Delivery $15 & Electronic Delivery $10 & Fax/Mail BOOKS ARTICLES
  8. 8. CUSTOM HOLDINGS BASICS Where do I set up my Custom Holdings? 3 Options  WorldCat Services Administrative Module  OCLC Service Configuration – WorldShare ILL  ILLiad Client
  9. 9. WorldCat Services Administrative Module – Resource Sharing firstsearch.oclc.org/admin
  10. 10. Step 1: Search Policies Directory
  11. 11. WorldCat Services Administrative Module – Resource Sharing firstsearch.oclc.org/admin
  12. 12. OR
  13. 13. OCLC Service Configuration – WorldShare ILL www.worldcat.org/config
  14. 14. OCLC Service Configuration – WorldShare ILL www.worldcat.org/config
  15. 15. OR
  16. 16. ILLiad Client – Resource Sharing Settings
  17. 17. CUSTOM HOLDINGS BASICS How do I edit/create my Custom Holdings? Create Custom Holdings Groups Edit Custom Holdings Groups Create Custom Holdings Paths Edit Custom Holdings Paths
  18. 18. OCLC Service Configuration – WorldShare ILL www.worldcat.org/config
  19. 19. Step 1: Click… Step 2: Enter Group Name and Description Step 3: Click… To CREATE a new Custom Holdings Group:
  20. 20. To EDIT a Custom Holdings Group: Step 1: Select a group to edit Step 2: Remove symbols by clicking the red X Step 3: To add symbols, click…
  21. 21. To EDIT a Custom Holdings Group: Step 4: Add symbols to the group or overwrite the entire group Step 5: Click… Step 6: Click “Save” on the next screen.
  22. 22. Special Feature! Select “Display Groups by symbol”… You can search across all your Custom Holdings Groups to find when a particular symbol occurs
  23. 23. OCLC Service Configuration – WorldShare ILL www.worldcat.org/config
  24. 24. Step 1: Click… Step 2: Enter Path Name and Description Step 3: Click… To CREATE a new Custom Holdings Path: Step 3: Click…
  25. 25. To EDIT a Custom Holdings Path: Step 1: Select a group to edit Step 2: Drag groups into the path Step 3: Click…
  26. 26. CUSTOM HOLDINGS BASICS How do Custom Holdings work?
  27. 27. Step 1: Click… Select the Path you want to use Lenders will display in order of your Custom Holdings
  28. 28. Lenders will display in order of your Custom Holdings Select the Path you want to use
  29. 29. OUR STORY Why Re-Strategize?  Holdings updated sporadically  Needed a complete overhaul  Desired a faster turnaround time
  30. 30. OUR STRATEGY  Start with LOANS Why? Fewer factors to consider  Start with IN-STATE Lenders Why? Affects 80% of requests  Create groups that are EASY TO UPDATE Why? REALITY!
  31. 31. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12
  32. 32. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12 FACTORS CONSIDERED:  Cost of Shipping: Free in-state courier or USPS/UPS/etc.  Speed of Shipping: Days of pickup for in-state libraries or USPS Postal Zone  Lender Affiliations: (LVIS, etc.) Affects cost and service expectations  Lender Charges: Free, $10, $20, etc.
  33. 33. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12 PhaseONE: In-State Libraries  ATTNLOAN = To get our attention if held by our library or Google Books (includes only IMC and GOOGL)  COURIER5, COURIER4, etc. = Free Indiana libraries that use the State courier service. Numbers 1-5 indicate # of days of pickup.  INDFREE = Free Indiana libraries that DO NOT use State courier service.
  34. 34. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12 PhaseONE: In-State Libraries  ATTNLOAN = To get our attention if held by our library or Google Books (includes only IMC and GOOGL)  COURIER5, COURIER4, etc. = Free Indiana libraries that use the State courier service. Numbers 1-5 indicate # of days of pickup.  INDFREE = Free Indiana libraries that DO NOT use State courier service.
  35. 35. Step 1: Search Policies Directory Step 2: Display symbols Step 3: Select symbols and copy
  36. 36. Step 4: Paste symbols into a document to organize into custom holdings groups Step 5: Use the Policies Directory and Info Express website’s “Participants List” to organize into custom holdings groups based on days of pickup
  37. 37. ASSESSMENT • Added 15 libraries to the Five Day Pickup group (COURIER5) • Requests filled doubled for 10 of these libraries • Example: INB (Bartholomew County Public Library) moved from 2-day to 5-day. Recently filled three requests Faster than average turnaround time Phase ONE: In-State Libraries
  38. 38. ASSESSMENT • Added 49 new symbols • Example: XXWBL (Ivy Tech Bloomington) Loaned us a recently published book Faster than average turnaround time Phase ONE: In-State Libraries
  39. 39. ASSESSMENT 0 1 2 3 4 5 6 7 8 9 10 Days(Average) Turnaround Time from Request Sent to Received for ILL Loans In-State In and Out State Phase ONE: In-State Libraries
  40. 40. ASSESSMENT 0 1 2 3 4 5 6 7 8 9 10 Days(Average) Turnaround Time from Request Sent to Received for ILL Loans In-State In and Out State Phase ONE: In-State Libraries
  41. 41. ASSESSMENT In-State Loans (Avg. Turnaround Time) All Loans (Avg. Turnaround Time) Sept 2009-Mar 2013 7.7 days 8.3 days Sept 2013 – Mar 2014 6.3 days 6.5 days Improvement in Turnaround Time 1.4 days 1.8 days Phase ONE: In-State Libraries
  42. 42. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12 PhaseTWO: Fast or Slow In-State Libraries  INDFAST = Libraries with exceptionally fast turnaround time  INDSLOW = Libraries with exceptionally slow turnaround time (would avoid using this group)
  43. 43. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12 PhaseTHREE: Out-of-State Libraries  ZONE123, ZONE45, etc. = Free, out-of- state libraries according to postal zones (1=Nearest, 5=Farthest)  PREFZ123, PREFZ45, etc. = Preferred, free, out-of-state libraries according to postal zones (Preferred = LVIS, CL@N, ATLA, etc.)  UNDER 11 = Libraries that charge $11 or less  OVER 12 = Libraries that charge $12 or more
  44. 44. OUR STRATEGY ATTNLOAN INDFAST INDSLOW COURIER5 COURIER4 COURIER3 COURIER2 COURIER1 INDFREE PREFZ123 PREFZ45 PREFZ678 ZONE123 ZONE45 ZONE678 UNDER 11 OVER 12 PhaseTHREE: Out-of-State Libraries  Process (Repeat for each state): • Create list of all the state’s “OCLC Supplier” symbols from Policies Directory and paste into a document • Examine each library in the Policies Directory (sorted by symbol) • Leave free libraries on the list (in the doc) • Cut and paste libraries that charge into UNDER11 or OVER12 sections of the doc • Create the preferred groups by searching Policies Directory by group affiliations (LVIS, etc.)
  45. 45. FURTHERCONSIDERATIONS Other Strategies for Loans  Put regional libraries first (InfoExpress hubs)  Consider shipping method (UPS vs. USPS)  Invoicing method (IFM vs. Invoice)  Your ideas…
  46. 46. COMMENTS AND QUESTIONS

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