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The purpose of this paper is to determine optimal replacement threshold and optimal inspection interval for an item subjected to condition-based maintenance (CBM). The primarily assumption is that the item's failure replacement cost depends on the item's degradation state at which failure occurs and/or the time the item fails. The cost of inspection is also taken into account.

The control limit replacement policy framework, already reported by some research referred to in this paper, is first extended to include the non-decreasing failure replacement cost assumption. Then, for alternative inspection intervals, replacement thresholds together with their associated total cost including the inspection cost are computed. By comparing the total costs, the optimal inspection interval and its corresponding optimal replacement threshold are simultaneously identified.

The mathematical formulation required for the determination of optimal replacement threshold and optimal inspection interval for an item subjected to CBM under the assumption of non-decreasing failure cost is provided.

In some practical situations where CBM is implemented, the failure replacement cost may depend on the time the failure happens and/or may depend on the system's degradation state. In addition, inspections often incur cost. Under such circumstances, findings of this paper can be utilized for the determination of optimal replacement threshold and optimal inspection interval for the underlying system.

Using the approach proposed in this paper, one could obtain the optimal replacement threshold and the optimal inspection interval for a system subjected to CBM.

This study presents a lifecycle cost model considering multi-level burn-in for operationally unrepairable systems including assembly and warranty costs. A numerical method to obtain system reliability under component replacement during burn-in is also presented with derived error bounds.

The final system reliability after component and system burn-in is obtained and warranty costs are computed. On failure during operation, the system is replaced with another that undergoes an identical burn-in procedure. Cost behaviours for a small and large system are shown in a numerical example.

There are more cost savings when system burn-in is conducted for a large system whereas a strategy focusing on component burn-in only can also result in cost savings for small systems. In addition, a minimum system burn-in duration is required before cost savings are achieved for these operationally unrepairable systems.

The operationally unrepairable system is a niche class of systems which small satellites fall under and no such study has been conducted before. The authors present a different approach towards the testing of small satellites for a constellation mission.

In response to questions about how to provide the correct level of after sales service in the face of shifting customer needs and expectations, SLC Consultants, Inc. has developed an after‐sales service framework, which examines the costs customers absorb when their equipment fails. Describes a framework which helps manufacturers identify the most cost‐effective service strategies for different customer segments, and determine how these strategies should influence equipment design. Suggests that the framework can also be used to predict how product and service strategies must change in response to new technologies and evolving customer needs.

The purpose of this paper is to construct a fuzzy logic model that acts as a decision support system to minimize inventory-related costs in the field of industrial maintenance. Achieving a balance between the unavailability and over-storage of spare parts is a problem with potentially significant consequences. That significance increases proportionally with the ever-increasing challenge of reducing overall cost. Either scenario can result in substantial financial losses because of the interruption of production or the costs of tied-up capital, also called the “solidification of capital.” Moreover, there is that additional problem of the expiry of parts on the shelf.

The proposed approach relies on inputs from experts with consideration for incompleteness and inaccuracy. Two levels of decision are considered simultaneously. The first is whether a part should be stored or ordered when needed. The second involves comparing suppliers with their batch-size offers based on user-determined criteria. A mathematical model is developed in parallel for validation.

The results indicate that the fuzzy logic approach is accurate and satisfactory for this application and that it is advantageous because of its limited sensitivity to the inaccuracy and/or incompleteness of data. In addition, the approach is practical because it requires minimal user effort.

To the best of the authors’ knowledge, the exploitation of fuzzy-logic altogether with limited sensitivity experts' inputs were never combined for the solution of this particular problem; however, this approach's positive impact is expected to be highly significant in solving a chronic problem in industry.

This paper attempts to address three key objectives. The primary aim is to enhance sourcing strategy for a centralized and coordinated multitier multiple suppliers networks with uncertain demand and supplier failure risks. The second objective is to enumerate all possible practical supplier(s) failure scenarios and quantify expected loss of demand cost. Finally, the work illustrates statistical experimentation to identify “influential” variables that can significantly impact the expected supply network and loss costs.

A seven-step solution framework is proposed to derive an optimal sourcing strategy for the specific network configuration with varied supplier failure scenarios. Five distinct models are formulated to address all possible scenarios of supplier failure events. Mixed-integer nonlinear programming technique is used to derive expected supply network cost and loss cost. The solution framework is verified using a real-life case.

A cross-case analysis indicates that an increase in suppliers' failure risk (SFR) probabilities or customer demand rate increases the expected loss of demand costs for a multitier supply network. Besides, an increase in unit component prices increases the expected supply network cost.

A two-tier automotive supply network for a single product is considered for all case studies.

The enhanced strategy can facilitate practitioners enumerate different supply network failure scenarios and implement the best solution.

There is no evidence of earlier research to derive optimal sourcing strategy for a centralized, coordinated multitier multiple supplier's network, considering demand uncertainties and SFR.

Based on cost of quality (CoQ) research, this study aims to highlight the importance of incorporating the costs to customers in contributing to service quality when examining how customers respond to possible service failures [quality assurance behavior (QAB)]. Consequently, this study also aims to show how the CoQ framework can be a useful tool to the service industry in determining enhancements in quality and related expenditures.

Using the airline industry as a case example, this study empirically tests the impact of predicted service quality and its associated costs on an individual’s QAB (wait time spent at the departing airport) through revealed preferences. The study uses survey data from more than 4,000 passengers matched with travel-specific quality information archived by the US Department of Transportation (DOT).

This study finds that customers are willing to increase their level of QAB when informed of an increased probability of service failure. This study also finds that the level of QAB varies depending on anticipated customer costs of avoiding or responding to service failures.

Findings of this study emphasize the need for shared responsibility between service providers and their customers in making decisions on the provision of service quality, as helping customers adjust the appropriate level of QAB may result in greater efficiency and higher quality of service.

This study conceptualizes and empirically tests causal relationships between expected quality and customer efforts (QAB), thus contributing to operations literature examining CoQ in a service setting. This study argues that it is critical to consider shared responsibilities between co-producers (service providers and customers) in service operations studies.

The purpose of the study is to evaluate whether the selection of accounting method used to value inventory increases or decreases the probability of a retail firm's ability to remain in existence.

This study employs a binary logistic regression model to predict group membership and the probability of failure. The study utilizes an unbalanced sample of US publicly traded failed and functioning retail firms over a ten-year period.

The results clearly support the conclusion that there is a difference in the probability of retail firm failure with respect to the accounting method used to value inventory. Merchants using a cost-based valuation method were 2.3 times more likely to fail than firms using a price-based method. The results also affirm existing bankruptcy literature by finding that profitability, liquidity, leverage, capital investment and cash flow are factors in retail failures.

The results suggest that traditional merchants cannot simply blame e-commerce or shifts in demographics for the retail Apocalypse; good management and proper valuation of stock still matter.

This study is the first to look at firm failure in the retail sector after the great recession of 2008, in an era known as the “retail Apocalypse.” In addition, this study differs from other firm failure literature by incorporating cost- and price-based inventory valuation methods as a variable in firm failure.

Introduction: Financial failure is a concept that may arise from many internal and external factors such as operational, financial, and economic items and may incur serious losses. Over-indebtedness arising from managerial misjudgments may cause high financial distress, insufficiency, and bankruptcy. In this regard, determination of effects of capital structure decisions on financial failure risk is crucial.

Aim: The main purpose of this study is to explore the relationship between capital structure decisions and financial failure risk. For this purpose, data from Borsa İstanbul (BIST) for listed food and beverage companies for the period from 2004 to 2019 is used. Another purpose of this study is to compare the financial failure models considering capital structure theories.

Method: In the study, capital structure decisions are associated with five different financial ratios; while the financial failure risk is proxied by financial failure scores of Altman (1968), Springate (1978), Ohlson (1980), Taffler (1983), and Zmijewski (1984). Therefore, five different panel data models are used for testing these hypotheses.

Findings: The results of panel data analysis reveal that capital structure decisions have statistically significant effects on financial failure risk for all models; however, those effects vary from one financial failure model to another. Also, the results show that in the models in which financial failure risk is proxied by the Altman (1968) and Taffler (1983) scores, the aggressive financial policies increase the financial failure risk. However, regarding the models in which financial failure risk is proxied by the Springate (1978), Ohlson (1980), and Zmijewski (1984) scores, aggressive financial policies decrease the financial failure risk.

Originality of the Study: To the best of our knowledge, this chapter is original and important in terms of revealing the effects of capital structure decisions on the financial failure risk and comparing the financial failure models.

Implications: The results revealed that the risk of financial failure models represented by Altman (1968) and Taffler (1983) scores are found to be statistically stronger and more successful in meeting theoretical expectations compared to other models. Therefore, it would be more appropriate to refer Altman’s (1968) and Taffler’s (1983) financial failure models in financial failure risk measurements.

In this study, we question: how do the social costs of failure interact with gendered institutions to affect the early stage entrepreneurship activity? We address this question by employing the institutional theory and a unique dataset of 286,989 entrepreneurs across 35 countries.

To test our hypotheses, we use a multilevel modeling analysis that nests individual entrepreneurs within the countries. To capture individual and country-level variables, we constructed a unique dataset that combines data from the Global Entrepreneurship Monitor (GEM), European Flash Barometer (EUFB), World Bank Development Indicator (WDI), World Bank Doing Business Report (WBDB) and World Economic Forum (WEF).

Our analysis confirms that higher levels of the country-level gender equality positively correlate with the early-stage entrepreneurship activity of women. Moreover, we find that this positive relationship is amplified in institutional environments with high social costs of failure, suggesting that societal intolerance for failure can exacerbate the negative effect of gender inequality on the participation of women in entrepreneurship.

Our research contributes to academic interest on the role of legitimacy in women entrepreneurship and is of particular interest to international business scholars, seeking a better understanding of multidimensional construction of institutional frameworks across countries. In this study, we set out to address an important research question: how do the social costs of failure interact with gendered institutions to affect entrepreneurship activity? Our study provides a comprehensive portrait of gendered institutions by including the framework conditions of education, healthcare and political power. We found that in societies with gender equality, the likelihood of individuals engaging in the early-stage entrepreneurship activity is higher and that the positive relationship is strengthened in national environments with high social costs of failure.

Our study findings underscore the need for government policies addressing global gender gaps in economic empowerment. In particular, policies assisting women in obtaining education in high-growth industries like information technology or providing funding to women-dominated industries may foster activity for women seeking to do business in such industries. Such policies connect the early-stage entrepreneurship activities with gender equality concerns and initiatives.

Regarding the social costs of failure construct, specifically, prior studies generally focus narrowly on the context of failed entrepreneurs. We cast a wider net on men and women entrepreneurs’ entry decisions (irrespective of prior experience with business failure) and provide new views on the effects of social costs of failure on entrepreneurial ecosystems. We also extend the research on the legitimacy of women as entrepreneurs with the gender equality construct.

Unlike previous studies, which often focus on the “3Ms” of market, money and management, our research adopts a more holistic perspective. We recognize that the opportunities and challenges faced by entrepreneurs are shaped not only by individual skills and resources but also by the broader macroenvironment. By incorporating the framework conditions of education, healthcare and political power, alongside the intricate interplay of social costs and norms, our study paints a comprehensive picture of the landscape of female entrepreneurship.

Briefly reviews previous literature by the author before presenting an original 12 step system integration protocol designed to ensure the success of companies or countries in their efforts to develop and market new products. Looks at the issues from different strategic levels such as corporate, international, military and economic. Presents 31 case studies, including the success of Japan in microchips to the failure of Xerox to sell its invention of the Alto personal computer 3 years before Apple: from the success in DNA and Superconductor research to the success of Sunbeam in inventing and marketing food processors: and from the daring invention and production of atomic energy for survival to the successes of sewing machine inventor Howe in co‐operating on patents to compete in markets. Includes 306 questions and answers in order to qualify concepts introduced.