Imagine that you will design a simple scheduler for multi-processing system. For simplicity, this computing environments consisting of four single-core processers, each of these processors has a local scheduler for managing the execution of arriving jobs. The global scheduler is responsible for scheduling the jobs assigned for all the running processors.

Using creativity and design thinking, propose a design for scheduling algorithm that fairly distribute the jobs and minimize the waiting time between these four processors. Justify the applicability of your algorithm with example.