From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

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Effectively managing queues

Effectively managing queues

From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

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Effectively managing queues

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- The next cost that many businesses have is quite a subtle one. You may not have noticed it. It's the cost of queues, the cost of having to wait for things. Now there are two costs associated with queuing. The first one is the effect on the customer, because they don't like it. And the second one is the cost of managing the queues. So let's look at the effect on the customer first. There is a risk that they won't buy so much because they have to wait for it. Or, that they'll go elsewhere. An examples of queues, 'cause sometimes you might not realize these are queues, obviously there's waiting for parts or waiting for a finished product, so you get queues halfway through your company as you wait for the previous person to give you whatever it is you need. There might be waiting to get your car serviced. So you could be waiting for a service. When you phone up the telephone helpline, that's a queue. Even email's a kind of a queue because when you email somebody, you have to wait for…

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