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ATM cash replenishment under varying population coverage requirements

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  • Andrea Chiussi
  • Christos Orlis
  • Roberto Roberti
  • Wout Dullaert

Abstract

Inspired by an automated teller machine (ATM) cash replenishment problem involving population coverage requirements (PCRs) in the Netherlands, we propose the vehicle tour problem with minimum coverage requirements. In this problem, a set of minimum-cost routes is constructed subject to constraints on the duration of each route and the population coverage of the replenished ATMs. A compact formulation incorporating a family of valid inequalities and an efficient tour-splitting metaheuristic are proposed and tested on 77 instances derived from real-life data involving up to 98 ATMs and 237,604 citizens and on 144 newly generated synthetic instances. Our results for the real-life instances indicate significant cost differences in replenishing ATMs for seven major Dutch cities when the PCRs vary. Additionally, we illustrate the impact of different PCRs on the ATM replenishment costs for seven major cities in the Netherlands by presenting an aggregated cost evaluation of 11 PCRs involving 1,003,519 citizens, 338 ATMs, and 19 cash distribution vehicles.

Suggested Citation

  • Andrea Chiussi & Christos Orlis & Roberto Roberti & Wout Dullaert, 2022. "ATM cash replenishment under varying population coverage requirements," Journal of the Operational Research Society, Taylor & Francis Journals, vol. 73(4), pages 869-887, March.
    • Handle: RePEc:taf:tjorxx:v:73:y:2022:i:4:p:869-887
    DOI: 10.1080/01605682.2020.1866443
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    Cited by:

    1. Lance Decker & Ben Zoghi, 2023. "The Case for RFID-Enabled Traceability in Cash Movements," FinTech, MDPI, vol. 2(2), pages 1-30, June.

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