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

Author

Listed:
  • TALARICO, Luca
  • SÖRENSEN, Kenneth
  • SPRINGAEL, Johan

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.

Suggested Citation

  • TALARICO, Luca & SÖRENSEN, Kenneth & SPRINGAEL, Johan, 2013. "The risk constrained cash-in-transit vehicle routing problem with time windows," Working Papers 2013012, University of Antwerp, Faculty of Business and Economics.
    • Handle: RePEc:ant:wpaper:2013012
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    File URL: https://repository.uantwerpen.be/docman/irua/cd0c59/f0c1a883.pdf
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    References listed on IDEAS

    as
    1. George Kontoravdis & Jonathan F. Bard, 1995. "A GRASP for the Vehicle Routing Problem with Time Windows," INFORMS Journal on Computing, INFORMS, vol. 7(1), pages 10-23, February.
    2. Olli Bräysy & Michel Gendreau, 2005. "Vehicle Routing Problem with Time Windows, Part I: Route Construction and Local Search Algorithms," Transportation Science, INFORMS, vol. 39(1), pages 104-118, February.
    3. Naoki Ando & Eiichi Taniguchi, 2006. "Travel Time Reliability in Vehicle Routing and Scheduling with Time Windows," Networks and Spatial Economics, Springer, vol. 6(3), pages 293-311, September.
    4. 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.
    5. G. B. Dantzig & J. H. Ramser, 1959. "The Truck Dispatching Problem," Management Science, INFORMS, vol. 6(1), pages 80-91, October.
    6. 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 Business and Economics.
    7. Helena R. Lourenço & Olivier C. Martin & Thomas Stützle, 2010. "Iterated Local Search: Framework and Applications," International Series in Operations Research & Management Science, in: Michel Gendreau & Jean-Yves Potvin (ed.), Handbook of Metaheuristics, chapter 0, pages 363-397, Springer.
    8. Olli Bräysy & Michel Gendreau, 2005. "Vehicle Routing Problem with Time Windows, Part II: Metaheuristics," Transportation Science, INFORMS, vol. 39(1), pages 119-139, February.
    9. Marius M. Solomon, 1987. "Algorithms for the Vehicle Routing and Scheduling Problems with Time Window Constraints," Operations Research, INFORMS, vol. 35(2), pages 254-265, April.
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    Cited by:

    1. Talarico, L. & Sörensen, K. & Springael, J., 2015. "The k-dissimilar vehicle routing problem," European Journal of Operational Research, Elsevier, vol. 244(1), pages 129-140.

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    More about this item

    Keywords

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