Discuss the basic purpose waiting line models. Then, discuss several advantages and disadvantages of waiting line modeling and clearly explain the reasons for your choices.
Thanks for asking
The waiting line is an important part of service industry. It is basically based on the principle of ques management. It is generally applied in the service of customers so that their waiting time is reduced and service of the organization improves. It can be used in super markets, highway tolls, doctors office, banks etc
Advantages:
Increased customer satisfaction thereby increase in business
Business development by applying efficient system
Ques will be organised
Customer retention
Optimisation of cost and increased profitability
Disadvantages
Low applicability
Because queueing theory models are based on the exponential
distribution, these models work through applying the traits of the
exponential distribution. The main problem lies in that the
exponential distribution has a coefficient of variation of one.
This fact precludes the modeling of any process that has a
coefficient of variation significantly different from one. Because
of the low likelihood of a random process having a coefficient of
variation of one, queueing theory has the disadvantage of low
applicability
I would not go for applying as it is a costly procedure with
technical limitations which limits its usage and
application.
Discuss the basic purpose waiting line models. Then, discuss several advantages and disadvantages of waiting line...
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