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IJSTR >> Volume 4 - Issue 7, July 2015 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



Modeling and Analysis of Queuing Systems in Banks: (A case study of Ghana Commercial Bank Ltd. Kumasi Main Branch)

[Full Text]

 

AUTHOR(S)

Wallace Agyei, Christian Asare-Darko, Frank Odilon

 

KEYWORDS

Keywords: Queuing theory, Waiting time, Economic cost, Arrival rate, Service rate, Multi-Channel Model, Tellers

 

ABSTRACT

Abstract: Queues are common sight of many banks in Ghana. The obvious implication of customers waiting in long and winding queues could result to prolonged discomfort and economic cost to them; however increasing the service rate will require additional number of tellers which implies extra cost to management. This study therefore attempts to find the trade-off between minimizing the total economic cost (waiting cost and service cost) and the provision of a satisfactory and reasonably shortest possible time of service to customers, in order to assist management of the bank in deciding the optimal number of tellers needed. Data for this study was collected at the Ghana Commercial Bank Ltd, Kumasi Main Branch for one month through observations, interviews and by administering of questionnaire and was formulated as multi-server single line queuing model. The data was analyzed using TORA optimization Software as well as using descriptive method of analysis. The performance measures of different queuing systems were evaluated and analyzed. The results of the analysis showed using a five teller system was better than a four or a six-teller system in terms of average waiting time and thetotal economic cost, hence the study recommends that, the management should adopt a five teller model to reduce total economic costs and increase customer satisfaction.

 

REFERENCES

[1] Sharma, J. K. Operations Research: Theory and Application, 3rd Ed. (Macmillan Ltd., India 2007)

[2] Taha, A. H., Operations Research: An Introduction, 7th Ed. (Prentice Hall, India, 2003)

[3] Hiray, J, Waiting Lines and Queuing System, Article
of Business Management, 2008

[4] Agbadudu, A.B. Elementary Operation Research. Vol. I, 1996 (Benin City, A.B. Mudiaga Limited).

[5] Elegalam “Customer Retention Versus Cost Reduction technique” A Paper Presented at the Bankers Forum held at Lagos, pg.9-10.1978.