Question

You are the Vice President of Banking Operations at Planter’s Bank and Trust. While entering the bank this morning, you noticed that only one teller was open, and there were five customers waiting in line. The banking industry is very competitive, and you want to make every effort to keep our customers happy. You have been investigating the possibility of using queuing theory to reduce customer waiting lines.   You have decided to send a Memo to all banking executives for the purpose of calling a meeting to discuss the possible use of queuing theory to solve the waiting line problem.

- Help me write a memo!

Answer 1

Date=24-07-20

To,

The bank executives

City Bank

New York,

Sub:- Meeting for facilitating better customer service

It has been recently noticed that during the morning hours when the rush of the customers is quite high in the bank, only one teller was opened that made some customers wait for the service. As we all must be aware of the fact that the banking industry has a lot of competition and any degradation in customer service can be fatal for our bank’s business perspective.

I am thinking of implementing queueing theory in the bank so that the service rate of the customers can be increased and at the same time this will help in reducing the waiting time of the customers in the queue. I, therefore, invite you all you attain the meeting for the implementation of the queueing theory in the bank for better customer service on 26-07-20 at 9:00 AM. You all need to come up with your inputs and suggestions about the implementation of queueing theory in the bank.