Metaheuristics for the risk-constrained cash-in-transit vehicle routing problem
This paper proposes a variant of the well-known capacitated vehicle routing problem that models the problem of routing vehicles in the cash-in-transit industry by introducing a risk constraint. In this problem, which is called the risk-constrained cash-in-transit vehicle routing problem (rctvrp), the risk associated with a robbery, which is assumed to be proportional both to the amount of cash being carried and the time or the distance covered by the vehicle carrying the cash, is limited by a certain risk threshold. A library containing three sets of instances for the rctvrp, some with known optimal solution, is generated based on VRP instances from the literature. A mathematical formulation is developed and small instances of the problem are solved using ibm cplex. Four constructive heuristics as well as a local search block composed of six different local search operators are developed and combined using two different metaheuristic structures: a multi-start structure and a perturb-and-improve structure. In a statistical experiment, the best parameter settings for each component are determined, and the resulting heuristic configurations are compared in their best possible setting. The resulting methods are able to obtain solutions of excellent quality in very limited computing times.
|Date of creation:||Mar 2013|
|Date of revision:|
|Contact details of provider:|| Postal: Prinsstraat 13, B-2000 Antwerpen|
Web page: https://www.uantwerp.be/en/faculties/applied-economic-sciences/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Helsgaun, Keld, 2000. "An effective implementation of the Lin-Kernighan traveling salesman heuristic," European Journal of Operational Research, Elsevier, vol. 126(1), pages 106-130, October.
When requesting a correction, please mention this item's handle: RePEc:ant:wpaper:2013005. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joeri Nys)
If references are entirely missing, you can add them using this form.