Spare Parts Inventory Optimization for Wind Farms

The wind power industry has received a lot of attention in recent years due to its environmental friendliness. Spare parts management is an important part of wind power industry, it is crucial due to the ability to establish a balance between system uptime and maintenance costs, thereby affecting the overall performance of a wind farm. Adopting an optimal policy for a single component in a system with multiple components cannot ensure that the income will be maximized. Therefore, we establish an optimization model to maximize the wind farm's availability within a budgetary constraint. We propose employing a convex optimization strategy by carefully analyzing and transforming the system model. The methodology utilizes the barrier interior point method. Comparative analysis with Matlab-implemented PSO demonstrates that our proposed method achieves an improved inventory strategy in less time.