why Queueing model is an important concept for improving business outcome?

Expert Solution

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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Rahul Sunny answered 4 weeks ago

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