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Title:

A TDVRP Model for Financial Convoy Service in China

Accession Number:

01519840

Record Type:

Component

Availability:

Transportation Research Board Business Office

500 Fifth Street, NW
Washington, DC 20001 United States

Abstract:

Recently, specialized financial convoy companies were established in main cities around China, and they are usually responsible for convoy currency for all bank branches in their cities. As other logistics service, financial convoy vehicle routing could be viewed as classical Vehicle Routing Problem with Time Windows (VRPTW). However, it has some extraordinary characteristics that need to be taken into account: (1) very tight time window; (2) urban road traffic condition during peak hours in the morning and afternoon. After investigation and interview, this paper treats financial convoy problem as Time-Dependent Vehicle Routing Problem (TDVRP) since the standard deviation of travel time is largely affected by difference of departure time rather than random fluctuation. The objective function is to minimize total cost. Firstly the authors propose a modified evolutionary strategy, then prove its effectiveness on Solomon’s benchmark of static VRPTW, and apply to TDVRP model with certain modifications. They also provide results of situations in which they only consider the time dependent travel time of part roads (for example, arterial roads). In the end, they conduct a case study on V Company’s financial convoy service in Nanshan district of Shenzhen, China. The result shows that the migration operator together with evolutionary strategy is effective to handle these problems.

Supplemental Notes:

Time-Dependent Vehicle Routing Problem Model for Financial Convoy Service in China: This is an alternate title. This paper was sponsored by TRB committee ADB30(4) Network Models in Practice.

Monograph Accession #:

01503729

Report/Paper Numbers:

14-0673

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Li, Qiang
Miao, Lixin

Pagination:

14p

Publication Date:

2014

Conference:

Transportation Research Board 93rd Annual Meeting

Location: Washington DC
Date: 2014-1-12 to 2014-1-16
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

Figures; References; Tables

Uncontrolled Terms:

Vehicle routing problem

Geographic Terms:

Shenzhen (China)

Subject Areas:

Finance; Freight Transportation; Planning and Forecasting; I72: Traffic and Transport Planning

Source Data:

Transportation Research Board Annual Meeting 2014 Paper #14-0673

Files:

TRIS, TRB, ATRI

Created Date:

Jan 27 2014 2:18PM