Application of Queuing Theory in Service Improvement and Time Management in Banking Sector
Queues are commonly sighted in almost every organization where services rendered, especially banks. Therefore, queuing theory which is the mathematical study of waiting lines is suitable to be applied in the banking sector since it is associated with queue and waiting line where customers who cannot be served immediately have to wait (queue) for service. The aim of this research project is to determine the average time customers spend on queue and actual time of service delivery in a certain Bank. The primary data were collected from the bank based on the arrival and service patterns of customers. The methodology employed followed the birth and death Markovian process. The result obtained showed that service rate is nine (9) persons per hour, the arrival rate is twelve (12) persons per hour and the probability that the servers are idle is 0.2471. It is therefore recommended based on the analysis that the bank management should increase the number of servers from three (3) to four (4) in order to help reduce the time customers spend on queue.
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