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Research Article Open Access

The Application of Queuing Analysis in modeling Optimal Service level

Abstract

Queues are common scenario faced in the modern day Banks and other financial Institutions. Queuing theory is the mathematical study of waiting lines; this can also be applicable queues in the banking system. This study examine the queuing system at Guarantee Trust Bank (GTB) putting into consideration the waiting time spend by Customers, Service time spend by a Customer and the average cost a customer loses while in queue and the service cost of each server in order to optimize the system. The First Come First Serve (FCFS) Multi-Server queuing model was used to model the queuing process. The waiting time was assumed to follow a Poisson distribution while the service rate follows an Exponential distribution. This study adopted a case study approach by randomly administering questionnaires, interviews and observation of the participants. The data were collected at the GTB cash deposit unit for four days period. The data collected were analysed using TORA optimization window based software as well as standard queuing formula. The results of the analysis showed that the average queue length, waiting time of customer with a minimum Total Cost that utilize the system is by using five Servers against the present server level of Three Servers which incur a high total cost to both the Customers and the system.

Onoja AA, Babasola OL, Moyo E and Ojiambo

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