A bi-objective cash-in-transit pick-up and delivery problem with risk assessment methodology: a case study

Document Type : Research Paper

Authors

1 Department of Industrial Engineering, K. N. Toosi University of Technology, Tehran, Iran.

2 Department of Industrial Engineering, K. N. Toosi University of Technology, Tehran, Iran

3 Department of Industrial Engineering and Management Systems, Amirkabir University of Technology, Tehran, Iran

10.22070/jqepo.2024.18159.1269

Abstract

In this paper, a Risk-constrained Cash-In-Transit Vehicle Routing Problem (RCITVRP) is addressed. One of the characteristics that has recently been of great interest to researchers is to increase the security and reduce the risks involved in transporting of valuable goods such as: cash, jewels, bullion, securities. A bi-objective mixed-integer non-linear programming (MINLP) model is proposed to formulate the studied problem. The first objective minimizes traveled cost and the second objective is to minimize amount of risk of an armed robbery or attack. New parameters in risk assessment have been used in this research. Also, pickup and delivery approach are considered which is very applicable in the real world. The eepsilon-constraint method as a multi-objective exact solution approach is implemented to solve the proposed model. Furthermore, several numerical examples are generated to evaluate the model and solution method. Finally, a case study is provided to investigate the applicability of the proposed method/model.

Keywords

Journal of Quality Engineering and Production Optimization

Articles in Press, Accepted Manuscript
Available Online from 05 June 2024

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