Overview Impact Of Application Of Queuing Theory Model On Productivity Performance In A Banking Sector

Abstract

Banking sectors have perpetual queues owing to the significance of the services they render to humanity and this poses a merging challenge of queue management in the execution their jobs and in the effective delivery of services to their customers. The study focuses on the role of queuing theory in the banking sectors thus far from pedigree of queuing theory till date. This study used the historical approach to juxtapose the likelihood of the impact of queuing in the various activities in the banking as seen in the regular applications to established areas of telecommunications systems and engineering. The outcome of this review espouses that a few approaches have been applied to sort the problems encountered in the banking sectors for needful improvement. Some of these approaches are ANN (Artificial Neural Network), BPR (Business Process Reengineering) M/M/1, M/G/1 and the Erlang B&C formulas for the management of excessive bank reserves and customer queues in terms of waiting times and economic cost. These approaches have been able to improve the performance of the banking sector to an extent, however there is still a couple of limitation regarded as external factors that varies from one banking system to another and lots of works are needed to further combat the problems faced by the banking sectors.

Enviable roles of manufacturing processes in sustainable fourth industrial revolution – A case study of mechatronics

“…Furthermore, manufacturing objects are connected to product model structures as well as process planning data and thus, they are enabled to actively control their manufacturing processes and procedures [37].…”

The Approaches Utilized in Queuing Modeling: A Systematic Literature Review

“…So, waiting in a line can be uncomfortable and exhausting for customers, and it can lead to lower customer satisfaction. Queuing theory has been widely used to evaluate consumer waiting times, optimize staff schedules, and improve the robustness of a queuing system in the face of changing demand [1] [2] [3].…”

“…Simply increasing the number of bank servers and branch locations is not beneficial for the banks. Unwise location selection and too routine bank operations will undoubtedly do the bank great harm [1][7] [17]. And considering the healthcare sector, such as allocating a few doctor counters, a few pharmacy counters and keeping separating the consulting doctors may help to reduce the long queues and helps to manage the queues.…”

A short review on queuing theory as a deterministic tool in sustainable telecommunication system

“…A queue can be applied as inventories in the manufacturing sector or any service that has to do with interactions with humans. Queuing theory can be applied in areas like; telecommunications [2], road traffic studies and computer network traffic studies [3]. Communication system was very suitable for the application of queuing models and theory.…”