Traditionally, optimal preventive maintenance strategies are derived under deterministic and constant rate demand. Using "option", a powerful financial derivative tool to tackle optimization problem under uncertain environment, this paper presents an analytical, option-based cost model for...

One of the major challenges that a remanufacturer faces at strategic planning level today is to match its supply (returned items) with demand due to the inherited uncertainties and variations on both sides. Forecasting product returns is one of the most important tasks of this matching process....

One of the major challenges that a remanufacturer faces at strategic planning level today is to match its supply (returned items) with demand due to the inherited uncertainties and variations on both sides. Forecasting product returns is one of the most important tasks of this matching process....

Nowadays, modern production patterns, such as batch production, have brought new challenges for multi-unit maintenance decision-making. The maintenance scheduling should not only consider individual machine deterioration, but also apply to batch production with variable lot size. An interactive...