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Hiring of machines/equipment is growing as the most preferred alternative method for financing the latest technology in many developing countries due to budgetary constraints faced by most of industries. The present paper is an attempt to develop an algorithm to minimize the utilization time of machines/equipments taken on rent and hence their hiring cost for the proposed queuing scheduling linkage model. The phase I of service (network of queues) consists of parallel and biserial servers in which the arrival and the service pattern both follows poisson’s law. Further, the completion time of jobs in getting phase I of service will be the setup time for first machine in phase II of service consisting of ‘m’ machines/equipments in series taken on rent. In industries men, machines, materials and money are involved for production. The manager of an industry is interested to use them in an economic manner so that the cost associated with the production is not increased or it minimum in the competition market. In industry there are some very complicated machines that are often necessary for performing a variety of procedures. In order to stay competitive, up to date equipments are required and buying all of these equipments get really expensive over time. There are industries who take various machines/equipment on rent and hiring of equipment is an affordable and quick solution for many industries, which are presently constrained by the availability of limited funds due to the recent global economic recession. Renting of equipments/machines enable saving working capital, give options for upgradation to new technology. The objective of paper is to find the latest time at which machines/ equipments should be hired so as to minimize utilization time and hence their hiring cost with minimum total elapsed time and with minimum mean queue length for the proposed queuing scheduling linkage model. A numerical illustration is also carried to test the efficiency of the proposed algorithm.

Analysis of queuing scheduling linkage model to minimize the hiring cost of machines/equipments