A hybrid nested partitions algorithm for banking facility location problems

Li Xia, Wenjun Yin, Jin Dong, Teresa Wu, Ming Xie, Yanjia Zhao

Research output: Contribution to journalArticle

13 Scopus citations

Abstract

The facility location problem has been studied in many industries including banking network, chain stores, and wireless network. Maximal covering location problem (MCLP) is a general model for this type of problems. Motivated by a real-world banking facility optimization project, we propose an enhanced MCLP model which captures the important features of this practical problem, namely, varied costs and revenues, multitype facilities, and flexible coverage functions. To solve this practical problem, we apply an existing hybrid nested partitions algorithm to the large-scale situation. We further use heuristic-based extensions to generate feasible solutions more efficiently. In addition, the upper bound of this problem is introduced to study the quality of solutions. Numerical results demonstrate the effectiveness and efficiency of our approach.

Original languageEnglish (US)
Article number5433326
Pages (from-to)654-658
Number of pages5
JournalIEEE Transactions on Automation Science and Engineering
Volume7
Issue number3
DOIs
StatePublished - Jul 1 2010

Keywords

  • Banking facility
  • maximal covering location problem
  • mixed integer programming
  • nested partitions algorithm

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Electrical and Electronic Engineering

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