OPTIMIZING THE NUMBER OF BANK BRANCHES EQUIPMENT BY USING SIMULATED ANNEALING ALGORITHM

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SAJJADI SEYYED KHALILOLLAH; AZIMI PARHAM

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Journal: Management Research in Iran Year:2015 | Volume:18 | Issue:4 Page(s): 65-86

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Information Journal Paper

Title

OPTIMIZING THE NUMBER OF BANK BRANCHES EQUIPMENT BY USING SIMULATED ANNEALING ALGORITHM

Author(s)

SAJJADI SEYYED KHALILOLLAH | AZIMI PARHAM | Issue Writer Certificate

Keywords

OPTIMIZATIONQ2

SIMULATIONQ2

SA ALGORITHMQ2

BANK BRANCHES EQUIPMENTQ2

Abstract

One of the main objectives in Bank customer- orientation is to reduce the waiting time of customers at the branch. One solution is optimal utilization of capacity and adequate facilities. Employing more than enough may cause additional costs to the Bank. This paper uses a new methodology to determine the optimal combination of equipment and facilities in Bank branches. For this purpose, mathematical model consisting of minimizing the objective function and some constraints was developed. We solved this model by using Simulated Annealing algorithm of answers or SIMULATION scenarios with respect to the objective function so that the optimal plausible scenario is chosen. In this method, first possible scenarios are made by considering issue constraints, using MATLAB and SIMULATION software ED in 50 times (each time 8 hours). Finally, with respect to the combined equipment and facilities of each scenario, the costs of using equipment and the cost of losts customers were calculated, and a scenario in which 4 Rial booths, 2 exchange booths, 3 facility booths, and two ATM booths are used with the lowest cost, WAS chosen as the optimal scenario.

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APA: Copy

SAJJADI, SEYYED KHALILOLLAH, & AZIMI, PARHAM. (2015). OPTIMIZING THE NUMBER OF BANK BRANCHES EQUIPMENT BY USING SIMULATED ANNEALING ALGORITHM. MANAGEMENT RESEARCH IN IRAN (MODARES HUMAN SCIENCES), 18(4), 65-86. SID. https://sid.ir/paper/356771/en

Vancouver: Copy

SAJJADI SEYYED KHALILOLLAH, AZIMI PARHAM. OPTIMIZING THE NUMBER OF BANK BRANCHES EQUIPMENT BY USING SIMULATED ANNEALING ALGORITHM. MANAGEMENT RESEARCH IN IRAN (MODARES HUMAN SCIENCES)[Internet]. 2015;18(4):65-86. Available from: https://sid.ir/paper/356771/en

IEEE: Copy

SEYYED KHALILOLLAH SAJJADI, and PARHAM AZIMI, “OPTIMIZING THE NUMBER OF BANK BRANCHES EQUIPMENT BY USING SIMULATED ANNEALING ALGORITHM,” MANAGEMENT RESEARCH IN IRAN (MODARES HUMAN SCIENCES), vol. 18, no. 4, pp. 65–86, 2015, [Online]. Available: https://sid.ir/paper/356771/en

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