Waiting Line Queue Management Introduction The waiting line or queue management is a critical part of service industry. It deals with issue of treatment of customers in sense reduce wait time and improvement of service.
Column 1 shows the number of customers while column 2 shows the number of tellers in use, columns 3, 4 and 5 explain the arrival time, commencement of service and end of service respectively.
The mean arrival rate for the sixty 60 customers who arrived and joined the queue in the branch for the system under consideration, is 1.
The mean service rate per channel or server or teller is 3. The implication of this is that each teller serves an average of 0. The service channels are the tellers. These were seven in number in the system.
The traffic intensity factor for the queuing system is 0. Also the probability that all tellers are idle equals the probability that the queuing system is empty which equals the probability that there is no customer in the queue system, is 0.
Waiting line management in bank implication, it means that the probability that the queuing system is empty is as low as 0. This means that the inflow of customers to the queue is always predictably high in the banking hall. The probability that all tellers are simultaneously busy and every teller in the banking hall is busy and consequently an arriving customer has to wait is 0.
The mean or expected waiting time for a customer in the queue is six 6 minutes. The mean time in the system by a customer is the average time a customer spends in the system and this is calculated to be 10 minutes.
With the average waiting time of six 6 minutes and average service time of four 4 minutes, the customer spends 10 minutes on the average in the banking hall. With respect to keeping a lid on operating expenses, the bank focused on right origination, cost-effective and error-free operations and effective complaint resolution.
Through Firstcontact, the bank continued driving improvements in service quality encompassing all customers touch points such as branches, ATMs, internet banking, e-mail service, as well as bank-office support functions. In her pursuit of the primary objective of increasing attention to effectively serve the customers by enabling greater specialization, deeper market penetration, closer relationship management and tailored product delivery, the bank embarked on operating restructuring and ancillary alterations to incentive and performance management systems aimed at aligning staff rewards and compensations to her overall goals.
In the KPMG customer satisfaction survey, assessing performance, the bank was ranked 8th from 10th in in its annual retail customer segment survey and 3rd from 6th in in its corporate customer segment survey. Duringthe bank recorded a number of important achievements across market-facing Strategic Business Units SBUs and non-market-facing Strategic Resource Functions SRFs while the different non-banking businesses within the bank also made great strides.
She emerged as the winner of the prestigious Sectoral Leadership Award Financial Service — Other Financial Institutions in the Pearl Award, in recognition of its outstanding operational and stock market performance.
During the year, the bank created a bespoke card product portfolio that addresses the payments needs of all customers segments with the capacity to issue a good number of cards with accompanying Pins on the spot in all the branches. The number of active cards issued by the banks grew to over 6. It has enhanced the internet banking platform to enable interbank transfers, and integrated her WEB and POS Point of Sales modules into first collect, to facilitate electronic sales collection through alternative channels on behalf of her corporate customers.
She launched first Pay Link, a multi-platform internet gateway that links to the corporate customers websites to facilitates online payments with both international and domestic cards. It is the first financial institution in Nigeria to attain ISO Information Security Management System Certification which enabled the bank to offer improved and secure banking transactions to her customers.
She is committed to availing term loans and working capital credit lines in foreign exchange and local currency to support network rollout and expansion as well as bridging working capital needs of the telecommunications industry. The Bank promotes a business environment that provides job security, employees health and wellbeing, and capacity building through training interventions based on competence requirements, business needs and evolving business opportunities, that earned her the Award of Employer of Choice Award by Multi-Talent Heritage and Associate in recognition of her commitment to efficient and responsible business management, which cultivates a highly motivated, capable and entrepreneurial workforce.
She clinched the most Innovative Bank of the Year Award in Africa by the African banker Awards in year in recognition of the creative use of technology to grant the unbanked and underbanked population in Africa, access to reliable, convenient and affordable financial services through the introduction of bio-metric technology, cash deposit ATMs and mobile financial service solutions, among other interventions to promote financial inclusion and improved customer experience not offered by her competitors.
This award also accentuates her adoption of globally acceptable standards of financial reporting to enhance shareholders value and fortify her business relationships with numerous stakeholders that require financial statements to make informed decision.
Information technology implies the science of applying modern technologies to information management, where various forms of information are processed, transmitted, manipulated, stored and retrieved with ease, speed, accuracy, efficiency and yet are cost effective [ 22 ].
IT can provide strategic advantages in the competition to produce new products or control distribution channels, leading to improvements in price, competitiveness, design and products quality, which developing economies find increasingly difficult to compete internationally [ 23 ]; [ 24 ]. Pepperd [ 25 ] admits that online banking and e- commerce will lead to financial stability while online trading is more cost effective because it could accelerate trade execution and expands the price information available to investors.
IT diffusion involves more than acquiring Computers and micro-electronics based gadgets and related know — how.Waiting lines are an everyday occurrence, affective people shopping for groceries buying gasoline, making a bank deposit, or waiting on the telephone for the .
Feb 15, · Waiting in lines is a part of our everyday life. Waiting in lines may be due to overcrowded, overfilling or due to congestion. Any time there is more customer demand for a service than can be provided, a waiting line forms. We wait in lines at the movie theater, at the bank for a.
that the waiting-line experience in a service facility significantly affects our overall perceptions of the quality of service provided. Once we are being served, our transaction with the service organization various 'queue management' techniques: for example, what the effects are upon average waiting times of adding servers.
Understanding waiting lines or queues and learning how to manage them is one of the most important areas in operation management.
In organizations or in personal life, there are examples of processes which generates waiting lines or queues.
terms of waiting-line length, average waiting time, and other factors helps us to understand ser- vice systems (such as bank teller stations), maintenance activities (that might repair broken machinery), and shop-floor control activities.
Queue: The waiting line itself is the second component of a queuing system. The length of a line can be either The length of a line can be either limited or unlimited.