Queuing system in Banks : A case study at Ghana Commercial Bank, Harper Road, Kumasi
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Date
2014-11-17
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Abstract
The study of ―Queuing model as a Technique of Queue solution in Banking Industry‖
was carried out in Ghana Commercial Bank, Harper Road Branch
The obvious cost implications of customers waiting range from idle time spent when
queue builds up, which results in man-hour loss, to loss of goodwill, which may occur
when customers are dissatisfied with a system.
However, in a bid to increase service rate, extra hands are required which implies cost to
management. The onus is then on the management to strike a balance between the
provision of a satisfactory and reasonable quick service and minimizing the cost of such
service. Thus, the management should evaluate performance of different queuing
structures and strike a middle ground between cost on one hand and benefits of improved
service on the other hand, which is the main thrust of this study. Therefore, this study
attempts to look at the problem of long queues in banks, why bank managers find it
difficult to eliminate queues and the effect of queuing model as a technique of queue
solution in Banking Industry. The variables measured include arrival rate (𝜆) and service
rate (μ). They were analyzed for simultaneous efficiency in customer satisfaction and cost
minimization through the use of a multichannel queuing model, which were compared for
a number of queue performances such as; the average number of customers in the queue
and in the system, average time each customer spends in the queue and in the system and
the probability of the system being idle. It was discovered that, using a three-server
system was better than a 2-server or 4-server systems in terms of the performance criteria
used and the study inter-alia recommended that, the management should adopt a three-server model to reduce total expected costs and increase customer satisfaction.
Description
A thesis submited to the Department of
Mathematics Institute of Distance Learning
Kwame Nkrumah University of Science and
Technology
in partial fulfillment of the requirements for the
degree
of
Master of Science
Industrial Mathematics,