Module selection in cash flow logistics: a special location-assignment-routing problem

Ahmad Jafarian, Parisa Dolati Neghabadi (), Atieh Jafarian, Jose M. Framinan () and Reza Zanjirani Farahani
Additional contact information
Ahmad Jafarian: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, Excelia Group | La Rochelle Business School, CERIIM - Centre de Recherche en Intelligence et Innovation Managériales - Excelia Group | La Rochelle Business School
Parisa Dolati Neghabadi: UL - Université de Lorraine, CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Atieh Jafarian: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, Excelia Group | La Rochelle Business School, CERIIM - Centre de Recherche en Intelligence et Innovation Managériales - Excelia Group | La Rochelle Business School
Jose M. Framinan: Universidad de Sevilla = University of Seville = Université de Seville
Reza Zanjirani Farahani: PSB - Paris School of Business - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université

Post-Print from HAL

Abstract: This paper investigates the optimisation of cash logistics network design for a set of self-service banking devices. Two types of modules are used: (i) Automated Teller Machines (ATMs) which only dispense cash, and (ii) Cash Recycler Systems (CRSs) which can both dispense and accept cash. Although CRS units involve higher acquisition costs than ATMs, their deployment can significantly reduce operational cash logistics costs when installed at suitable locations. Independent ATM Deployers (IADs) are emerging companies that own and operate ATMs independently of banks or financial institutions. To model and analyse this problem, we develop a specialised location–inventory–routeing problem with time windows and module selection. A novel metaheuristic solution approach based on invasive weed optimisation is proposed. The applicability of the model is demonstrated through a real-life case study conducted with an IAD company. The results indicate that installing CRSs is particularly advantageous at locations that are geographically remote from other devices but exhibit sufficient cash return rates. Moreover, CRSs are shown to be a preferable option in areas close to depots with high return volumes, as well as in distant locations even when return rates are relatively moderate.

Keywords: optimisation; cash recyclingsystems; timewindows; cash-in-transit; network design; Location-inventory-routeingproblem (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

Published in Journal of the Operational Research Society, 2026, pp.1-28. ⟨10.1080/01605682.2026.2667412⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05649150

DOI: 10.1080/01605682.2026.2667412

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().