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Locating and Sizing Bank-Branches by Opening, Closing or Maintaining Facilities

In: Operations Research Proceedings 2005

Author

Listed:
  • Marta S. Rodrigues Monteiro

    (Universidade do Minho
    LIACC)

  • Dalila B. M. M. Fontes

    (LIACC)

Abstract

Summary The bank-branch restructuring problem seeks to locate bank-branches by maintaining, closing, or opening branches, to provide the service required by clients, at minimum total cost. This nonlinear problem, due to the existence of economies of scale, is formulated as a mixed binary, integer linear model. The model obtained can be solved by a ready-available software. However, due to the problem combinatorial nature, only small size instances can be solved. Thus, we also propose a local search heuristic that iteratively improves the solution obtained for a related linear problem by applying drop and swap operations. The computational experiments performed show the effectiveness and efficiency of the proposed heuristic.

Suggested Citation

  • Marta S. Rodrigues Monteiro & Dalila B. M. M. Fontes, 2006. "Locating and Sizing Bank-Branches by Opening, Closing or Maintaining Facilities," Operations Research Proceedings, in: Hans-Dietrich Haasis & Herbert Kopfer & Jörn Schönberger (ed.), Operations Research Proceedings 2005, pages 303-308, Springer.
    • Handle: RePEc:spr:oprchp:978-3-540-32539-0_48
    DOI: 10.1007/3-540-32539-5_48
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    Citations

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    Cited by:

    1. Ayfer Basar & Özgür Kabak & Y. Ilker Topcu, 2017. "A Decision Support Methodology for Locating Bank Branches: A Case Study in Turkey," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 16(01), pages 59-86, January.
    2. Diego Ruiz-Hernández & David Delgado-Gómez, 2016. "The stochastic capacitated branch restructuring problem," Annals of Operations Research, Springer, vol. 246(1), pages 77-100, November.

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