CHEXPEDITE: A COMPUTER‐BASED APPROACH TO THE BANK COURIER PROBLEM

This paper presents a successful computer‐based approach to scheduling courier vehicles for the check collection system in multibranch commercial banks. The approach has been adopted by six large banks in the United States and has achieved dramatic cost savings at several of these banks. This paper begins by describing the bank courier problem and reviewing several approaches to the problem that have been proposed in the literature. A practical, computer‐based approach to the bank courier problem is then presented. Finally, implementation experience at several banks is overviewed.