Inventory optimisation based on NSGA-III algorithm Online publication date: Sun, 03-Sep-2023
by Yaxue Li; Hongzhi Xie; Xiaolin Deng; Jin Zhang; Shuhui Liu; Li Wang
International Journal of Space-Based and Situated Computing (IJSSC), Vol. 9, No. 3, 2023
Abstract: Inventory management is essential to any enterprise, and correctly setting inventory parameters can reduce costs while ensuring adequate inventory levels. To meet the availability requirements of different categories of spare parts for nuclear power plants, this paper combines the NSGA3 algorithm with a single-objective algorithm to solve the inventory parameter setting problem. Based on the historical usage data of nuclear power plant spare parts, we establish both availability rate and spare part cost objective functions and optimise these functions using the NSGA3 algorithm. We then use a single-objective optimisation function to obtain the optimal solution as the parameter setting for nuclear power plant spare parts. By combining these two methods, we can better meet spare parts requirements for different categories, while fully considering the inventory management needs of nuclear power companies and improving management efficiency.
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