Cash IOT Movement

Challenge

Armored couriers are employed by companies to safely transport valuable items such as cash. In this project, the transfer occurs between retailers and their banks. The objective was to understand the operational behavior of the armored transport service provider and compare between the current state and a future state that employs technology such as RFID tags on cash bags and a robot for sorting.

Solution

A discrete-events simulation model was built in AnyLogic covering several processes:

• Retailer processes: collecting or dropping cash bags, barcode scanning, paperwork, transfer of custody
• Bank processes: collecting or dropping cash bags, withdrawing cash from ATMs and refilling them, paperwork, transfer of custody
• Courier branch arrival: arriving cash storage, bag inspection, tagging, sorting, and preparation for next-day pick-up
• Courier branch morning operations: bag inspection, manifest checking, custody transfer, loading to the truck
• Truck movement: between retailers, banks, and courier branch

A future state was also incorporated with improvements proposed by the client for comparison between current and future state.

Outcome

The model provided detailed breakdown of all needed time durations and resource utilizations in both states. This allowed complete analysis of system performance and helped the client prove initial assumptions of reduced staffing requirements, improved efficiency, reduced long-term cost, and increased capacity in the future state.

Project Features

• Industry: Armored Transport & IOT
• Model: Discrete Events
• Duration: 1 month