In: Economics
Benefits of Queuing Model
By applying queuing model, a business can develop more efficient
queuing systems, processes, pricing mechanisms, staffing solutions,
and arrival management strategies to reduce customer wait times and
increase the number of customers that can be served.
Queuing model as an operations management technique is commonly used to determine and streamline staffing needs, scheduling, and inventory, which helps improve overall customer service. It is often used by Six Sigma practitioners to improve processes.
Example of Queuing model
For example, a 2003 paper by Stanford School of Business professor
Lawrence Wein et al. used queuing theory to analyze the potential
effects of a bioterrorism attack on U.S. soil and proposed a system
to reduce wait times for medications that would decrease the number
of deaths caused by such an attack. There are free queuing theory
calculators available, where a user can choose a specific queuing
model.
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