Designing collection routes through bank branches

Designing collection routes through bank branches

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Article ID: iaor1994632
Country: United Kingdom
Volume: 20
Issue: 7
Start Page Number: 783
End Page Number: 791
Publication Date: Sep 1993
Journal: Computers and Operations Research
Authors: , ,
Keywords: distribution, heuristics, vehicle routing & scheduling
Abstract:

Most banks must send out vehicles on a regular basis to their branches in order to collect cash and negotiables left by depositors. The problem is modeled as a vehicle routing problem with constraints and objective terms specific to the particular banking context, such as penalties for lost interest. Two versions of the problem are studied: the determinsitic case, and the stochastic case in which travel times are random. These two versions are modeled as integer mathematical programs, and solved by means of a heuristic procedure. Problems derived from a real situation (a Belgian bank network) are solved under different scenarios.

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