Abstract
The application of queuing theory in optimization techniques is to be shown in this paper. The main focus is to be given to study the different queuing models on the banks systems in order to provide service to the customers and find the waiting times. Queuing analysis and queuing theory will be investigated and applied to optimize the waiting time and to improve customer satisfaction. In order to find the most efficient solution the (M/M/1): (∞/FCFS) [Poisson arrival, Poisson departure, single server, infinite capacity and “First Come, First Served”] queuing model will be investigated first to the data obtained from bank and waiting time, length of queue(s) and utilization factor will be obtained. Then results will be analyzed and shown that the service facility of the concerned bank is not adequate to fulfill its needs. Then the (M/M/s): (∞/FCFS) [Poisson arrival, Poisson departure, the number of service stations is s in parallel, infinite capacity and “First Come, First Served”] queuing model will be investigated for the same data to obtain the same results. After analyzing so obtained results, it will be shown that this model will improve service to the bank customers.
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Dhar, R., Chakraborty, A., Sarkar, J. (2020). Queuing Theory and Optimization in Banking Models. In: Gunjan, V., Suganthan, P., Haase, J., Kumar, A., Raman, B. (eds) Cybernetics, Cognition and Machine Learning Applications. Algorithms for Intelligent Systems. Springer, Singapore. https://doi.org/10.1007/978-981-15-1632-0_19
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DOI: https://doi.org/10.1007/978-981-15-1632-0_19
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