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This is a renewal-theoretic analysis of a class of single-item (s, S) inventory systems. Included, in a unified exposition, are both con tinuous and periodic review systems under fairly general random de mand processes. The monograph is complete in the sense that it starts from the derivation of the time dependent and stationary dis tributions of basic stochastic processes related to these systems and concludes with the construction and testing of simple, distribution free approximations for optimal control policies. However, it is rather incomplete as an account of single-item inventory...

Quality, Warranty and Preventive Maintenance examines the impact of product quality on warranty and maintenance costs and strategies, from the perspectives of both manufacturers and users. In addition, the theories of warranty and preventive maintenance are introduced and discussed. Common wisdom supports the notion that better product quality means lower warranty costs for the manufacturer, and lower maintenance costs for the users of a manufactured product. This proposition is examined in some detail on the basis of failure time models. The authors investigate what exactly better...

Quality, Warranty and Preventive Maintenance examines the impact of product quality on warranty and maintenance costs and strategies, from the perspectives of both manufacturers and users. In addition, the theories of warranty and preventive maintenance are introduced and discussed. Common wisdom supports the notion that better product quality means lower warranty costs for the manufacturer, and lower maintenance costs for the users of a manufactured product. This proposition is examined in some detail on the basis of failure time models. The authors investigate what exactly better...