Time and inventory dependent optimal maintenance policies for single machine workstations: An MDP approach

► Maintenance decisions depend on machine degradation and WIP or finished inventory. ► Inter-arrival times of jobs/demand, service and failure times assumed stochastic. ► Optimal policies conveniently obtained by solving the MDP using linear programming. ► Optimal policies compare favorably against those commonly used in practice. ► Proof that optimal policies exhibit certain control limit rules is provided.