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The risk constrained cash-in-transit vehicle routing problem with time windows

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  • TALARICO, Luca
  • SÖRENSEN, Kenneth
  • SPRINGAEL, Johan
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    Abstract

    This paper proposes a variant of the Vehicle Routing Problem in which a particular kind of risk constraint has been introduced to model the problem of routing vehicles in the cash-in-transit industry and a hard time window constraint, with no waiting times, delimits the customer's visit within a specified time interval. Two metaheuristic algorithms have been developed to cope with medium and large instances of the problem. In a computational experiment, the best parameter settings for each algorithm are determined. The resulting metaheuristics are compared, in their best possible setting, solving some benchmark instances for the capacitated vehicle routing problem with time windows.

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    File URL: https://www.uantwerpen.be/images/uantwerpen/container1244/files/TEW%20-%20Onderzoek/Working%20Papers/RPS/2013/RPS-2013-012.pdf
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    Bibliographic Info

    Paper provided by University of Antwerp, Faculty of Applied Economics in its series Working Papers with number 2013012.

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    Length: 24 pages
    Date of creation: Jul 2013
    Date of revision:
    Handle: RePEc:ant:wpaper:2013012

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    Postal: Prinsstraat 13, B-2000 Antwerpen
    Web page: https://www.uantwerp.be/en/faculties/applied-economic-sciences/
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    Related research

    Keywords: Vehicle routing; Risk; Security; Cash-in-transit; Metaheuristic;

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    References

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    1. Zografos, Konstantinos G. & Androutsopoulos, Konstantinos N., 2004. "A heuristic algorithm for solving hazardous materials distribution problems," European Journal of Operational Research, Elsevier, vol. 152(2), pages 507-519, January.
    2. G. B. Dantzig & J. H. Ramser, 1959. "The Truck Dispatching Problem," Management Science, INFORMS, vol. 6(1), pages 80-91, October.
    3. TALARICO, Luca & SÖRENSEN, Kenneth & SPRINGAEL, Johan, 2013. "Metaheuristics for the risk-constrained cash-in-transit vehicle routing problem," Working Papers 2013005, University of Antwerp, Faculty of Applied Economics.
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