Abstract: Highlights•The Benders sub-problems of the p-median problem can be solved very quickly with a polynomial-time algorithm.•The efficient implementation of a two-stage Benders decomposition algorithm performs better than state-of-the-art exact methods in solving instances of up to 238025 clients and sites, and also previously unsolved benchmark instances.•The two-stage Benders decomposition algorithm can be adapted to other location problems such as the uncapacitated facility location problem and the optimal diversity management problem.
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