In: Economics
Queuing theory should be used to study problems involving people, materials, equipment or vehicles form waiting lines. What are some of the reasons this is so important in the study of systems?
Queuing theory is the mathematical study of the congestion and delays of waiting in lines. It examines every component of waiting in line to be served, including the arrival process, service process, number of servers, number of system places, and the number of customers—which might be people, data packets, cars, etc.
Queuing theory should be used to study problems involving people, materials, equipment or vehicles from waiting lines. To study the system of queuing is very important because queuing theory can help users make informed business decisions on how to build efficient and cost-effective workflow systems. Real-life applications of queuing theory cover a wide range of applications, such as how to provide faster customer service, improve traffic flow, efficiently ship orders from a warehouse, and design of telecommunications systems, from data networks to call centers.
By applying queuing theory, 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 theory as an operations management technique is commonly used to determine and streamline staffing needs, scheduling, and inventory, which helps improve overall customer service.