An Open Tool-Set for Simulation, Design-Space Exploration and Optimization of Supply Chains and Inventory Problems

Tushar Lone, Lekshmi P., Neha Karanjkar

2023

Abstract

This paper presents the design overview and work-in-progress status for InventOpt - a Python-based, open tool-set for simulation, design space exploration and optimization of supply chains and inventory systems. InventOpt consists of a Python library of component models that can be instantiated and connected together to model and simulate complex supply chains. In addition, InventOpt contains a GUI-based tool to assist the user in planning design of experiments, visualizing the objective functions over a multi-dimensional design space, building and tuning meta-models and performing meta-model assisted optimization to identify promising regions in the design space. We present a detailed case study that illustrates the current prototype implementation, planned features and utility of the tool-set. The case study consists of simulation-based optimization of inventory threshold levels in a particular supply chain system with 8 decision parameters. We present our observations from the case study that lead to design decisions for building InventOpt such as the choice of the meta-model type, number of simulation measurements for building the meta-model, the choice of optimizer and the trade-off between computational cost and quality of results. A significant aspect of this work is that each step of the process has been implemented using open Python libraries.

Paper Citation

in Harvard Style

Lone T., P. L. and Karanjkar N. (2023). An Open Tool-Set for Simulation, Design-Space Exploration and Optimization of Supply Chains and Inventory Problems. In Proceedings of the 13th International Conference on Simulation and Modeling Methodologies, Technologies and Applications - Volume 1: SIMULTECH; ISBN 978-989-758-668-2, SciTePress, pages 432-439. DOI: 10.5220/0012133300003546

in Bibtex Style

@conference{simultech23,
author={Tushar Lone and Lekshmi P. and Neha Karanjkar},
title={An Open Tool-Set for Simulation, Design-Space Exploration and Optimization of Supply Chains and Inventory Problems},
booktitle={Proceedings of the 13th International Conference on Simulation and Modeling Methodologies, Technologies and Applications - Volume 1: SIMULTECH},
year={2023},
pages={432-439},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012133300003546},
isbn={978-989-758-668-2},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 13th International Conference on Simulation and Modeling Methodologies, Technologies and Applications - Volume 1: SIMULTECH
TI - An Open Tool-Set for Simulation, Design-Space Exploration and Optimization of Supply Chains and Inventory Problems
SN - 978-989-758-668-2
AU - Lone T.
AU - P. L.
AU - Karanjkar N.
PY - 2023
SP - 432
EP - 439
DO - 10.5220/0012133300003546
PB - SciTePress