Pinching-antenna systems (PASS) have emerged as a promising flexible-antenna architecture capable of dynamically reconfiguring wireless channels by activating dielectric particles along waveguides. The sum rate maximization problem in multi-waveguide PASS is investigated in this study. Both in-waveguide propagation loss and coupling effects are explicitly modeled. To tackle the optimization problem, a hierarchical user scheduling (HUS) algorithm is proposed. The HUS algorithm minimizes the sum of squared distances between users and their associated waveguides to mitigate path loss. Additionally, spatially separated users are assigned within each time slot to reduce inter-user interference. Furthermore, a joint optimization framework integrating power allocation and pinching-antenna (PA) positioning is developed to further improve system sum rate. Specifically, PAs' positions are optimized via one-dimensional search, while the power allocation problem is solved by using the Lagrangian duality and fractional programming. Numerical results show that the HUS algorithm clearly outperforms random pairing, and the proposed power allocation algorithm shows a marked performance improvement over the maximum ratio transmission algorithm. Moreover, the results explicitly demonstrate the considerable impact of in-waveguide propagation loss and coupling effects on the performance of PASS.