Customers’ Flow Assessment of Some Banks using Queuing Model Technique

Queuing theory is the mathematical study of waiting lines of customers in a service system such as fuel stations, supermarket check-out counters, post offices, cafeteria, and banking halls. In queuing theory, a model is constructed so that important queuing characteristics of the service systems can be obtained as a measure of the service performance. The obvious cost implications of customers waiting range from idle time spent when queue builds up, which results in man-hour loss, to loss of goodwill, which may occur when customers are dissatisfied with a system. However, in a bid to increase service rate, extra hands are required which implies cost to management. The onus is on the management to strike a balance between the provision of a satisfactory and reasonable quick service and minimizing the cost of such service. Descriptive research method was employed in carrying out the study at Access Bank Plc., through observation, interview and questionnaire administration. The variables measured include arrival rate (λ) and service rate (μ), analyzed for simultaneous efficiency in customer satisfaction and cost minimization through the use of a multichannel queuing model, which were compared for a number of queue performances such as; the average number of customers in the queue and in the system, average time each customer spends in the queue and in the system and the probability of the system being idle. It was discovered that, using a four (4)-server system was better than a 2-server or 3-server systems in terms of the performance criteria used and the study inter-alia recommended that, the management should adopt a four (4)-server model to reduce total expected costs and increase customer satisfaction.