A risk-constrained time-dependent cash-in-transit routing problem in multigraph under uncertainty

Tikani, Hamid; Setak, Mostafa; Demir, Emrah

doi:10.1016/j.ejor.2020.12.020

Cited by 15 publications

(6 citation statements)

References 61 publications

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“…Several researchers have attempted to provide recommendations for better CIT security by optimizing the routing of armored vehicles [7][8][9][10]. This area of research seeks to save money, reduce the risk of robbery, and optimize operational behaviors.…”

Section: Methodsmentioning

confidence: 99%

The Case for RFID-Enabled Traceability in Cash Movements

Decker

Zoghi

2023

FinTech

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Cash movements between banks and customers are often conducted through armored courier services. These armored couriers are hesitant to adopt new technologies because the business’s nature requires well-documented custody transfers of cash bags. Often, these transfers are still based on paper receipts. The researchers believe that using radio frequency identification (RFID) and an application programming interface (API) between all parties in the cash management ecosystem reduces cost, improves efficiency, and increases capacity. To alleviate the hesitancy of armored couriers, a simulation model is made that operates much like an existing 45-vehicle branch. Once the model was validated, changes were made to the model to adopt the API interfaces and RFID systems required. In addition, an RFID-based sorting robot was implemented. A comparison focused on the workforce utilization of armored vehicle crews and branch tellers. As expected, the resulting model significantly reduces staffing requirements, improves efficiency, and increases capacity. The operational behaviors of tellers were reduced by 79%, and truck route durations were reduced by 43%. The expectation is that this research will help armored couriers see the advantages of adopting such a system and spur additional investigation of the solution. Finally, the cost of the system and operational savings were put into a return on investment/payback period calculation, revealing an annual savings of approximately USD 2.2 million after a one-year payback period.

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Section: Methodsmentioning

confidence: 99%

The Case for RFID-Enabled Traceability in Cash Movements

Decker

Zoghi

2023

FinTech

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“…Three heuristic algorithms were used to address the problems, aiming to improve distribution efficiency by utilizing existing resources. Tikani et al [18] offered a new model for CIT which put forth that as transport risk is proportional to the travel time of the vehicle, a formula for measuring the transport risk of traffic congestion was needed. To solve this model, they suggested flexible restricted dynamic programming and a self-adaptive caching genetic algorithm.…”

Section: Literature Reviewmentioning

confidence: 99%

A Multi-objective Cash-in-transit Pollution-location-routing Problem Based on Urban Traffic Conditions

Mazinani

Tavakkoli–Moghaddam

Bozorgi-Amiri

2023

IJE

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“…ey proposed a nonlinear mathematical model which minimized the total weighted completion time where the reliability of routes was controlled to be more than a predetermined threshold value. Two other works which focused on routing application in multigraphs are Tikani and Setak [24] and Tikani and Setak [25].…”

Section: Vehicle Routing Problem In Multigraph Networkmentioning

confidence: 99%

Multigraph Modeling for Urban Distribution of Emergency Commodities with Semisoft Time Windows under Uncertainty

Tikani

Setak

Abbasi

2021

Journal of Advanced Transportation

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In this paper, we studied a stochastic bi-objective mathematical model for effective and reliable rescue operations in multigraph network. The problem is addressed by a two-stage stochastic nonlinear mixed-integer program where the reliability of routes is explicitly traded-off with total weighted completion time. The underlying transportation network is able to keep a group of multiattribute parallel arcs between every pair of nodes. By this, the proposed model should consider the routing decision in logistic planning along with the path selection in an uncertain condition. The first stage of the model concerns with the vehicle routing decisions which is not involved with random parameters; besides, the second stage of the model involves with the departure time at each demand node and path finding decisions after observation of random vectors in the first stage considering a finite number of scenarios. To efficiently solve the presented model, an enhanced nondominated sorting genetic algorithm II (NSGA-II) is proposed. The effectiveness of the introduced method is then evaluated by conducting several numerical examples. The results implied the high performance of our method in comparison to the standard NSGA-II. In further analyses, we investigated the beneficiary of using multigraph setting and showed the applicability of the proposed model using a real transportation case.

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A risk-constrained time-dependent cash-in-transit routing problem in multigraph under uncertainty

Cited by 15 publications

References 61 publications

The Case for RFID-Enabled Traceability in Cash Movements

The Case for RFID-Enabled Traceability in Cash Movements

A Multi-objective Cash-in-transit Pollution-location-routing Problem Based on Urban Traffic Conditions

Multigraph Modeling for Urban Distribution of Emergency Commodities with Semisoft Time Windows under Uncertainty

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