OPTIMIZING CASH MANAGEMENT STRATEGIES FOR AUTOMATED TELLER MACHINES (ATMS) IN PALESTINE: ENHANCING CUSTOMER SATISFACTION AND COST-EFFECTIVENESS

No Thumbnail Available
Date
2025-02-25
Authors
Shehadeh, Rabab
Journal Title
Journal ISSN
Volume Title
Publisher
An-Najah National University
Abstract
Nowadays, banks aim to maintain a solid Automated Teller Machines (ATM) cash replenishment system for the sake of business success and service delivery. An adequate cash replenishment system is critical for maintaining sufficient cash, optimizing operational costs, and improving customer satisfaction on the provided service. Our research aims at solving an ATM cash replenishment vehicle routing problem that integrates environmental, economic, and social sustainability. More specifically, our approach intends to implement a Replenishment Pull System Methodology with three different stock levels to ensure that ATMs are sufficiently loaded with cash. In addition, our approach extends the realism of the research problem by considering two types of ATMs, which are classical and recycle ATMs, to investigate the benefits and profitability of employing recycle ATMs. Furthermore, to ensure business success, our model considers the costs associated with cash management system by minimizing the operational costs. Also, the social factor was studied by maximizing customer satisfaction by ensuring the ATMs are continuously loaded with sufficient amounts of cash. The Non-dominated Sorting Genetic Algorithm (NSGA) was employed to solve the developed model, because of its high capability to solve multi-objective vehicle routing problems. Results revealed the relationship between cash withdrawal, cash deposit, and the location of the ATMs, in addition to assessing the feasibility of employing recycle ATMs rather than classical ones. Sensitivity analyses were conducted to investigate the effect of altering the number of cash in transit vehicles and ATMs. The execution of the developed model in the banking sector results in advantages for service providers, mainly in terms of reducing the operational costs associated with the cash management system, in addition to achieving customer satisfaction.
Description
Keywords
Citation
Collections