Hybrid optimisation algorithm for solving the multi‐level spare parts inventory optimisation problem

Abstract

Aiming at the low quality of the solution obtained with the traditional marginal analysis algorithm for solving multi-level inventory optimisation problem of repairable spare parts, a hybrid algorithm integrating particle swarm optimisation, marginal analysis algorithm-METRIC model and tabu search is proposed. In the early stage of the hybrid algorithm, particle swarm optimisation is used to explore the global solution space and in the later stage, tabu search is used to local search, and the marginal analysis algorithm is used to constructing neighbourhood. The experimental results show that the proposed algorithm can solve the problem of spare parts multi-level inventory optimisation effectively and efficiently.