We consider a system with a finite lifespan and a single critical component that is subject to random failures. An age-based replacement policy is applied to preventively replace the component before its failure. The components used for replacement come from either a weak population or a strong...

In maritime industry, moving assets (e.g., naval ships, dredgers, pilot vessels) are subject to obligatory inspections that are based on calendar time. These inspections consist of exhaustive operations that need the assets to be towed into specialized facilities referred to as dry-docks. In...

We consider a production/inventory system consisting of one production line and multiple products. Finished goods are kept in stock to serve stochastic demand. Demand is fulfilled immediately if there is an item of the requested product in stock and otherwise it is backordered and fulfilled...