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Calculating Cost of Data in a Queue

Six Sigma – iSixSigma Forums Old Forums General Calculating Cost of Data in a Queue

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  • #51014

    Ron
    Member

    Can anyone help me figure out how do I calculate the cost of a process that has queues for data to sit in until the data can be worked on?  The data can sit in the queues because it has low priority compared to other job tasks.  And for this question, let’s assume that the customer’s requirements can be met even if the data is waiting to be worked on.
    Any help will be appreciated.
    Thank you

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    #176185

    Mikel
    Member

    It has no value in that condition.

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    #176218

    Pal
    Participant

    There are two ways to calculate the same…1. the cost of storing a data..basically inventory carrying cost..however, in the case of soft data…the cost is normally zero…unless you eliminate the requirement of keeping the data 2. Because of waiting, if other processes are kept on hold then the cost can be quantified in terms of carrying cost of other things or delay in meeting customer’s requirements. 

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