Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
QUEUING THEORY
When limited facilities fail/delays to satisfy demands made upon them, problems occur which generate queues or waiting lines. Illustrations are:• Customers waiting at cash desks in a supermarket or bank• A stock of items in a warehouse awaiting storage• Letters in an ‘in’ tray waiting to be opened • Telephone calls to a switchboard waiting to be answered.In business, queues have certain ‘economic’ or ‘cost’ implications;
It may be too costly for a company to allow long queues to develop. E.g. if employees queue up at a store counter for new material supplies, the company will incur the cost of idle time and lost production due to their time spent waiting.
It will probably be costly to speed up service, and thus reduce waiting time and queue lengths because it would be necessary to employ extra service assistants, service counters or service equipment.
Customers may expect to be served within a certain length of time; otherwise they may take their custom elsewhere. Queuing problems are therefore concerned with:
• Average waiting times• The average length of queues (i.e. the average number of people in a queue or service system)• The cost of a servicing system.The management may therefore wish to provide a servicing system which either: minimize the joint costs of: a) servicing customers b) (idle) time waste by customers in the queue or balance the requirement to provide a satisfactory service time with the interests of economy i.e. to provide a reasonably quick service but at a relatively low cost.
Ageing Schedule: AS is classifies outstanding accounts receivable at a specified point of time into various age brackets. A clarifying ageing schedule is specified below.
Elimination of non-value added activity JIT manufacturing can be described as a philosophy of management, dedicate to the elimination of waste. Waste is stated as anything whic
Organizing (1) It is the establishment of the framework within which the required activities are to be performed and the designation of who should perform such activities. It inc
given the above data what would the breakeven in units and dollars be if u wanted a necessary after tax profit of $ 36,000 (assume a 30% tax rate ) units __________ ales dollars _
The working capital needs of a firm are influenced by many factors. The important ones are as follows: Nature of business: The working capital necessity of a firm is closely l
Budgetary control According to CIMA the establishment of budgets relating the responsibilities of executive to the requirement of a policy and the continuous comparison of achi
The significant objectives of short-term cash forecast are as given: find out operating cash requirement anticipating short term financing Organization investment of
Recommend whether marginal or absorption costing should be use for internal monthly reporting
For this assignment, please complete and submit Task 1 and Task 2 as described below. Task 1: Classifying Cash Flows The following are transactions, events, and changes in balances
How do the different cost classifications can assist the management
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd