Application of Queuing Model and Cost System in Managerial Decision Making

Olawepo G.T, Ibrahim,W.M, NigeriaIshola James .A.

Abstract


Most management dealing with customers awaiting service find it difficult to determine the efficiency of their service facility and also to measure the performance of their system. Some of these performance measures could be the following; the number of customers in the system, the time spent by customer in the system, the queuing length and the time spent on the queue. The number of the customers being served for a specific time and the probability that there are n customers in the system are included in the performance measures. M/M/1 models for performance measure were developed with cost implications and the models were applied to one of the banking industry and the results help us to determine the efficiency and the performance measure in the bank and any business organization.


Keywords: performance, measure, efficiency, customers, bank.


Full Text:

PDF


DOI: https://doi.org/10.26483/ijarcs.v5i3.2051

Refbacks

  • There are currently no refbacks.




Copyright (c) 2016 International Journal of Advanced Research in Computer Science