Imperfect Production Systems with Imperfect Preventive Maintenance, inflation, and Time Value of Money

@article{Darwish2006ImperfectPS,
  title={Imperfect Production Systems with Imperfect Preventive Maintenance, inflation, and Time Value of Money},
  author={Mohammed A. Darwish},
  journal={APJOR},
  year={2006},
  volume={23},
  pages={89-105}
}
A model that integrates the issues of production, quality, maintenance, inspection, inflation, and time value of money is proposed in this paper. It is assumed that the production system starts in the in-control state producing items of high or perfect quality. However, the process may deteriorate with time and shifts at a random point in time to an out-of… CONTINUE READING