TABU SEARCH APPROACH FOR LOCATING BANK BRANCHES: AN APPLICATION FOR A TURKISH BANK
Journal Title: Endüstri Mühendisliği - Year 2015, Vol 26, Issue 3
Abstract
Although technology has improved and distribution channels have become alternative opportunities for reaching bank services, the branch offices are still important for the banks to gain new customers and keep in touch with them. Growth in population and urbanization in Turkey forces the banks to increase the number of their branch offices in service to reach new customers. Finding the best location for bank branches depends on a number of distinct measures. This paper presents a methodology to find the best location of bank branches. For this aim, firstly, a number of criteria are selected by the help of a detailed literature review and expert judgments. Subsequently priorities of these criteria for four different types of bank branches are identified based on expert judgments using pairwise comparisons. The priorities are used in a new mathematical model developed to decide the best branch locations of bank branches. Since optimal solution cannot be easily found for big regions, a Tabu Search heuristic approach is developed. Finally, the proposed methodology is applied for a large Turkish national bank’s branch location problem in Istanbul.
Authors and Affiliations
Ayfer BAŞAR, Özgür KABAK, Y. İlker TOPÇU
Keywords
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