Queuing Theory

Filed Under »
Dictionary Says

Definition of 'Queuing Theory '

A mathematical method of analyzing the congestions and delays of waiting in line. Queuing theory examines every component of waiting in line to be served, including the arrival process, service process, number of servers, number of system places and the number of "customers" (which might be people, data packets, cars, etc.). Real-life applications of queuing theory include providing faster customer service, improving traffic flow, shipping orders efficiently from a warehouse and designing telecommunications systems such as call centers.  
Investopedia Says

Investopedia explains 'Queuing Theory '

Queuing theory is used to develop more efficient queuing systems that reduce customer wait times and increase the number of customers that can be served. For example, a 2003 paper by Stanford School of Business professor Lawrence Wein used queuing theory to analyze the potential effects of a bioterrorism attack on U.S. soil and propose a system to reduce wait times for medications that would decrease the number of deaths caused by such an attack.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Bottleneck

    A point of ...
  2. Supply Chain Management - SCM

    Supply chain ...
  3. Channel

    1. The system of ...
  4. Supply Chain

    The network ...
  5. Logistics

    The overall ...
  6. Reverse Fulfillment

    The portion of ...
  7. Residual Equity Theory

    An accounting ...
  8. Multi-Level Marketing

    A strategy that ...
  9. Judo Business Strategy

    A plan for ...
  10. Market Cannibalization

    The negative ...

Articles Of Interest

  1. Measuring Company Efficiency

    Three useful indicators for measuring a retail company's efficiency are its inventory turnaround times, its receivables and its collection period.
  2. Financial Efficiency: The Analyst's Guide To Time Management

    Being efficient on the job is the key to finding balance and avoiding burnout as a broker or advisor.
  3. What Is Market Efficiency?

    The efficient market hypothesis (EMH) suggests that stock prices fully reflect all available information in the market. Is this possible?
  4. A Practical Look At Microeconomics

    Learn how individual decision-making turns the gears of our economy.
  5. The Amateur Investor's Guide To Analyzing Corporate Efficiency

    Find out how the amateur investor can measure the success of management.
  6. New Year Planning For Business Owners

    Make a resolution to start your business off on the right foot in the new year.
  7. Master The Art Of Negotiation

    Learn the strategies that will help you to come out on top in any negotiation.
  8. How To Create A Business Succession Plan

    Make sure the business you built continues to thrive long after you've left the helm.
  9. 4 Steps To Creating A Stellar Business Plan

    If you're going into business, you must have a plan. Find out how to put this important document together.
  10. 9 Tips For Growing A Successful Business

    Give your business what it needs to thrive and it will reward you for years to come.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center