This paper examines a single-stage production system that deteriorates with production actions, and improves with maintenance. The condition of the process can be in any of several discrete states, and transitions from state to state follow a semi-Markov process. The firm can produce multiple...

This paper investigates the relationship between market conditions and the value and use of sourcing flexibility for service processes. We develop and analyze a series of models, and we derive expressions for the optimal switching decision, the value of the option to outsource, the value of the...

We consider a situation in which a manufacturer has to select the product(s) to sell as well as the selling price and production quantity of each selected product. There are two substitutable products in the consideration set, where product 2 has a higher quality and reservation price than that...