Description
The traditional cash management process involving armored couriers has been transformed through the integration of RFID technology and API interfaces. Researchers have developed a simulation model mimicking existing branch operations to demonstrate the efficiency gains and cost reductions achievable with this innovative approach. By implementing RFID systems and API interfaces, along with an RFID-based sorting robot, significant improvements in efficiency and capacity have been achieved, with reduced staffing requirements and shorter truck route durations. The findings suggest substantial operational savings, with an estimated annual savings of approximately USD 2.2 million, highlighting the potential for widespread adoption of this system within the cash management ecosystem.
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