This article covers meaning & overview of Queuing Theory or Waiting Line Theory from operations perspective.
Queuing Theory is a branch of operations research which is used to predict the length of queues and waiting times in order to decide the amount of resources required to provide any service.
As per Little’s Theorem the average number of customers (N) that arrive can be determined form the equation:
N = λ T , where λ is the customer arrival rate and T is the average service time for a customer.
The queuing system can be classified as per the following convention:
A/S/n – A is the arrival process, S is the service process and n is the number of servers.
Examples of Queuing Systems are:
M = Markovian or exponentially distributed
D = Deterministic or constant
G = General or Binomial Distribution
Hence, this concludes the definition of Queuing Theory or Waiting Line Theory along with its overview.
This article has been researched & authored by the Business Concepts Team which comprises of MBA students, management professionals, and industry experts. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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