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PROBLEM 10.6DQ

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Operations And Supply Chain Management
Found in: Page 253
Operations And Supply Chain Management

Operations And Supply Chain Management

Book edition 14th
Author(s) F. Robert Jacobs
Pages 800 pages
ISBN 9780078024023

Short Answer

Question: What is the major cost trade-off that must be made in managing waiting line situations?

Answer

Waiting line as well as queue managing is an important aspect of the service business. It addresses the issue of client service in the sense of time that has elapsed time and enhancing services.

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Step by Step Solution

Meaning of cost trade-off

In economics, a trade-off is expressed in terms of the chance cost of a certain choice, which is the loss of the most preferred alternative given up.

Waiting line

Waiting e management deals with understanding and modelling queues and with taking managerial action to reduce waiting, time customers.

There is generally a trade-off between the cost of providing service and the cost of waiting time

An expansive staff and numerous benefit offices for the most part result in tall levels of benefit but have tall costs.

Having the least number of benefit offices keeps benefit costs down but may result in disappointed customers. Service offices are assessed on their add up to anticipated fetched, which is the whole of benefit costs and holding up costs.

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