Multi-objective optimisation in the retail banking industry with stochastic discrete-event simulation

How can the service level of the researched ATM network, operated by the particular bank, be maximised at minimum cost using industrial engineering techniques?Final year project (BEng)--Stellenbosch University, 2011.ENGLISH ABSTRACT: Cash management is a multi-objective optimisation problem which aims to maximise the service level provided to customers at minimum cost. The topic of du Toit's (2011) masters thesis was automated teller machice (ATM) cash management for a specific South African retail bank. Focus was placed on an ATM network which primarily provides cash to blue collar laborers in the rural Eastern Cape. The aim of this final year project is to refine the work done by du Toit through the specific investigation into the effect of applying a combination of the vehicle routing problem (VRP) and continuous review policy for inventory management to the retail banking industry. A decision support system (DSS) in the form of a stochastic, discrete-event simulation model is developed. 90 different scenarios are experimented with using the DSS. Results show that the application of the VRP consistently yields high service levels at low cost when compared to two other routing approaches: first-in- first-out routing and direct replenishment. It is concluded that use of the VRP is especially beneficial when the bank has substantial control over transportation cost. The principal recommendation is therefore that cost control should be maximised to fully exploit the advantages obtainable from effective cash management. Finally, it is argued that the benefits to be gained from effective cash management (higher service levels at lower cost) can lead to the improvement of the lives of many a South African wage earner. These benefits could also lead to an increased profit margin - life is all about choices.AFRIKAANSE OPSOMMING: Kontantbestuur is multi-doelstelling optimeringsprobleem waarvan die doelwit is om die diensvlak wat aan kliënte gelewer word, te maksimeer, terwyl koste minimeer word. Die onderwerp van du Toit (2011) se meesters tesis was outomatiese tellermasjien (OTM) kontantbestuur vir 'n spesifieke Suid-Afrikaanse kleinhandelbank. Fokus is geplaas op 'n OTM netwerk wat hoofsaaklik kontant aan arbeiders in die landelike Oos-Kaap voorsien. Die doel van hierdie finale jaar projek is om du Toit se werk te verfyn deur spesifiek ondersoek in te stel na die effek wat die toepassing wat 'n kombinasie van die voertuigskeduleringsprobleem en die deurlopende hersieningsbeleid vir voorraadbestuur sal hê. 'n Stogastiese, diskrete-gebeurtenis simulasie model is ontwikkel om as besluitnemings ondersteuningstelsel te dien. 90 verskillende eksperimente is met die simulasie model voltooi. Resultate toon dat die toepassing van die voertuigskeduleringsprobleem deurlopend hoë diensvlakke teen vergelykende lae koste tot gevolg het. Die voertuigskeduleringsprobleem word vergelyk met twee ander skeduleringstegnieke: eerste-in-eerste-uit skedulering en direkte aanvulling. Die gevolgtrekking word gemaak dat gebruik van die voertuigskeduleringsprobleem veral voordelig is wanneer die bank aansienlike beheer oor vervoerkoste het. Die hoof aanbeveling is daarom dat kostebeheer gemaksimeer behoort te word om ten volle munt te slaan uit die voordele wat moontlik gemaak word deur effektiewe kontantbestuur. Ten slotte word daar aangevoer dat die voordele wat sal volg uit effektiewe kontantbestuur (hoër diensvlakke teen laer koste), die lewens van vele Suid-Afrikaanse loonwerkers kan verbeter. Die voordele kan ook lei tot 'n vergrote winsmarge -- die lewe is vol keuses

Traceability of Financial Assets Through the Application of the Internet of Things

Cash continues to be a vital payment method within the United States monetary system, and the use of money continues to grow despite common perception. This research explores the operational behaviors of an armored truck company (ATC) and its interactions with banks, retailers, automatic teller machines (ATMs), and their competitors and establishes a simulation that closely represents a typical branch. Provided data, observed data, and discussions with the management of an ATC validated the simulation model. Next, the research focused on technologies that could be applied to this branch to reduce costs, increase capacity, and improve visibility for all parties in the cash movement process. Through this exploration, passive RFID (radio frequency identification) was chosen as the most optimal solution with the most significant application at the lowest cost of ownership to the ATC branch. After establishing the choice of technology, the simulation model was adapted to include RFID within the operational behaviors of the branch. RFID enables complete system visibility, improves operational behaviors, and significantly decreases operational costs. Adding in an RFID-based sorting robot reduces error and prevents bags from being sorted multiple times by different tellers within the branch. For the branch example used, adding an RFID system saved the ATC branch $2.1 million annually in operational costs and covered the cost of the system deployment. ATCs that deploy RFID within their branches save money, increase capacity, and improve cash visibility

A tracking and billing system for commercial vehicles

Capstone Project submitted to the Department of Engineering, Ashesi University in partial fulfillment of the requirements for the award of Bachelor of Science degree in Electrical and Electronic Engineering, April 2019The Ghanaian transit system poses certain challenges to users, as it usually has passengers waiting at bus stops for a bus to their destination, for an unknown amount of time because there is no means of tracking the buses. The system is also problematic as passengers usually argue with bus conductors for change, when payments are made in high denominations, because there are no cashless payment methods available. This makes planning of journeys difficult to users of this system. Existing systems generally use a GPS receiver and cellular data network to transmit location information. Other public transportation systems incorporate additional systems that allow passengers to make cashless payments. This project solves the tracking problem on the Ghanaian transportation system by installing a GPS enabled device in the vehicle which would transmit the location coordinates to a server using long-range radio (LoRa) waves instead of the cellular data network. For payments, a system is developed that permits users to make payments using an NFC card or by scanning a QR code, unique to each bus which would then make a deduction from the users account.Ashesi Universit

OCTA 2009: EU Organised Crime & Threat Assessment

In response to ‘The Hague Programme’, three OCTA (2006, 2007 and 2008 OCTA) have been produced and, combined with the ensuing Council Conclusions, have already had a significant impact on law enforcement throughout Europe. This fourth OCTA represents another important step forward in consolidating this proactive and EU-wide approach in combatting OC. The 2009 OCTA aims to be a significant milestone in the assessment of the OC threat, bringing into the same context the structural and functional features of the OC groups and the dynamics of which they are part or that can be exploited by them. Such assessment is carried out with the aim of identifying criminal ‘combinations’ that are shaping the OC dynamics in the whole EU or significant parts of it, so that the ensuing conclusions are relevant beyond the borders of individual Member States (MS) and complement priorities based on national threat assessments. This approach is reflected in the structure of the OCTA. First of all, criminal markets are briefly explored, refraining from reiterating known situations in full, and focusing instead on emerging issues and new trends, with the aim of better outlining the environment in which OC groups operate and the opportunities that are or may be exploited by them. Then, the EU criminal hubs are described through the assessment of their characteristics and possible evolution, and through the analysis of the interaction between OC groups and criminal activities occuring within and among the hubs. Finally, the capabilities and intentions of OC groups active in the EU are analysed. This analysis derives from an evolved typology of OC groups based on their features, strategies and fields of action as reported by MS. This analysis also contributes to the improvement of the typology itself, thus initiating and perpetuating a cycle, which is typical of intelligence activities. Money laundering (ML) and important side issues such as the criminal situation in West Africa and the present economic crisis are treated in dedicated sections of the document, as they request a special and asymmetric interest. The OCTA is based on a multi-source approach, including law enforcement and non-law enforcement contributions. It helps to close the gap between strategic findings and operational activities but, in suggesting strategic priorities, it is not intended to be so detailed as to pinpoint specific criminal investigations. The OCTA is always being enhanced. Methodological questions and other issues are continuously being addressed in close co-operation with the Member States.The methodology and procedures for its completion have been amended, and this has had a positive result in terms of quality of the contributions submitted to the report and the way in which the contributions are analysed. Overall, the changes which have been introduced have all contributed to enhancing the quality of the OCTA. The OCTA does not cover terrorism or terrorist networks

The Critical Role of Public Charging Infrastructure

Editors: Peter Fox-Penner, PhD, Z. Justin Ren, PhD, David O. JermainA decade after the launch of the contemporary global electric vehicle (EV) market, most cities face a major challenge preparing for rising EV demand. Some cities, and the leaders who shape them, are meeting and even leading demand for EV infrastructure. This book aggregates deep, groundbreaking research in the areas of urban EV deployment for city managers, private developers, urban planners, and utilities who want to understand and lead change

Operational Research IO2017, Valença, Portugal, June 28-30

This proceedings book presents selected contributions from the XVIII Congress of APDIO (the Portuguese Association of Operational Research) held in Valença on June 28–30, 2017. Prepared by leading Portuguese and international researchers in the field of operations research, it covers a wide range of complex real-world applications of operations research methods using recent theoretical techniques, in order to narrow the gap between academic research and practical applications. Of particular interest are the applications of, nonlinear and mixed-integer programming, data envelopment analysis, clustering techniques, hybrid heuristics, supply chain management, and lot sizing and job scheduling problems. In most chapters, the problems, methods and methodologies described are complemented by supporting figures, tables and algorithms. The XVIII Congress of APDIO marked the 18th installment of the regular biannual meetings of APDIO – the Portuguese Association of Operational Research. The meetings bring together researchers, scholars and practitioners, as well as MSc and PhD students, working in the field of operations research to present and discuss their latest works. The main theme of the latest meeting was Operational Research Pro Bono. Given the breadth of topics covered, the book offers a valuable resource for all researchers, students and practitioners interested in the latest trends in this field.info:eu-repo/semantics/publishedVersio

AAA Five Diamond Designation: Is it worthwhile to convert?

There is very little literature that analyzes the benefits of travel industry ratings and the benefits of achieving a top designation. The purpose of this paper is to determine if it is beneficial to become a AAA Five Diamond property, specifically in Las Vegas, in relation to the cost associated with meeting the standards of the designation. The paper examines all aspects of the conversion to these Five Diamond standards including staffing, training, physical property, financial output, profit, ADR, employee attitude, customer attitude, and overall perception. It also looks at the time involved with the conversion from Four Diamond to Five Diamond, and the efforts needed to maintain the designation. The paper examines Hotel Lux in Las Vegas as an example of a current Las Vegas AAA Four Diamond property seeking the AAA Five Diamond designation and includes a conversion plan with financial information. It is recommended that Hotel Lux would benefit from the conversion to AAA Five Diamond standards to achieve the designation

Bearer Negotiable Instruments: Addressing a Financial Intelligence Gap and Identifying Criminogenic Weaknesses

Bearer Negotiable Instruments (BNI) are a long-standing category of financial instruments used to transfer large amounts of money in ways that may not be subject to regulation, reporting, tracking, review, or oversight. There is limited information available on BNIs, and no evidence that any studies have been undertaken on BNIs alone, much less reported. Increasingly, BNIs are being used for illegal purposes including money laundering. This study gathers information about their characteristics, nature, purpose, legal status, and numbers. It also focuses on the crime risks associated with BNIs, the crime opportunities they facilitate, and the criminal weaknesses in the financial instruments themselves. Data and knowledge are obtained to provide a sound basis for further study and analysis, and to make policy recommendations that reflect practical, corrective, and preventative measures to reduce future crime using BNIs