Using waiting line models to compare leasing options | Macquarie University ResearchOnline

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Title: Using waiting line models to compare leasing options
Related: Review of business research, Vol. V, No. 4, (2005), p.40-45
Publisher: International Academy of Business and Finance
Date: 2005
FoR/RFCD Code(s): 150300 Business and Management
Author/Creator: Croucher, John S
Description: This paper considers a problem in which an organisation is currently leasing a machine that is yielding unacceptable waiting times for those queuing to use it. There are three available options that are being considered by management where the criterion is to minimise the total cost of the system. The first is to stay with the status quo, the second is to lease a faster machine and the third is to lease multiple machines. Two types of scenarios are discussed; one in which the waiting time in the queue is taken into account while the other includes the time spent at the machine itself. An appropriate formula is derived for each situation.
Description: 6 page(s)
Subject Keyword: 150300 Business and Management
Resource Type: journal article
Organisation: Macquarie University. Macquarie Graduate School of Management

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