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Economics of the waiting game!

Eficiencia desatada


Managing and organizing the waiting lines have become a challenge for today’s managers. The managers must mind the challenge of providing rapid service and the perceived waiting cost. Managing the cost of these two variables is the real economics of the waiting game which is played by all of us doing business in a customer-centric marketplace!

queue management jpg

It has become essential to balance the cost of service and waiting time. As the number of service counters reduces, the cost of the waiting line increases. But, as the managers increase the number of service counters, the cost of waiting lines will decrease. The exponential curve shows the relationship between these two variables.

The cost curve of installing a queue management system is shown in the graph as a linear function. The service optimization is found at the line which crosses the points between a number of service counters and the cost of the waiting line, creating a U-curve of aggregate cost.



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