Operations management (OM) and human resources management (HRM) historically have been very separate fields. In practice, operations managers and human resource managers interact primarily on administrative issues regarding payroll and other matters. In academia, the two subjects are studied by...

"A new textbook for upper level undergraduate to graduate level industrial and manufacturing engineering students in courses of Operations Engineering or Management applying engineering problem solving data analytics to business operations"--

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...