Changes in the global economy and technological advances are stimulating an increasing geographic distribution of new product design and development efforts. For large organizations that design and develop complex products, this geographic distribution has added a new layer of complexity to...

We consider a make-to-stock production/inventory system consisting of a single deteriorating machine which produces a single item. We formulate the integrated decisions of maintenance and production using a Markov Decision Process. The optimal dynamic policy is shown to have a rather complex...