This paper studies production planning with random yield and demand. It is a departure from previous studies of random yield in that it defines the sale price and the purchasing cost as exogenous and increasing with decreasing yield. While this behavior can be observed in various industries...

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...