The risk constrained cash-in-transit vehicle routing problem with time windows

This paper proposes a variant of the Vehicle Routing Problem in which a particular kind of risk constraint has been introduced to model the problem of routing vehicles in the cash-in-transit industry and a hard time window constraint, with no waiting times, delimits the customer's visit within a specified time interval. Two metaheuristic algorithms have been developed to cope with medium and large instances of the problem. In a computational experiment, the best parameter settings for each algorithm are determined. The resulting metaheuristics are compared, in their best possible setting, solving some benchmark instances for the capacitated vehicle routing problem with time windows.