Product design teams often aim to streamline product structures by standardising products' components and their features in order to reduce operations cost and improve productivity. We examine the notion of standardisation of components in product design by formulating a component selection...

This paper contains an analytical formulation for performance measurement of an unreliable production-storage operation where production and demand rates for a single item are subject to random fluctuations in the operating environment. These fluctuations are represented as transitions among the...