A novel risk perspective on location-routing planning: An application in cash transportation

The critical role of supply chain security for businesses and government agencies has resulted in significant efforts over the last two decades to reduce vulnerability or disruption chains. This paper addresses routing problem carriers high-value shipment transportation by developing a rich variant vehicle problem. To secure route plans, predictability paths beside travel costs is minimized proposing new integrated dynamic risk index. We present mixed integer linear programming formulation this problem, called pickup delivery with time windows (S-PDPTW). Moreover, meta-heuristic solution method based on adaptive large neighborhood search algorithm developed tackle large-size instances. Extensive computational experiments target proposed demonstrate efficiency all procedures. Using geographical information system, we provide some managerial insights real case from strategic operational perspectives, whereby applicability model clearly shown considerably reducing value against slight increase classic objective value.