Abstract
Industry 4.0 portrays the pattern toward mechanization and information trade in manufacturing innovations and procedures which incorporate cyber-physical systems, the Internet of Things, the Industrial Internet of Things, cloud computing, cognitive processing, and artificial intelligence. For all purposes, we require multioperating units of reliable machining systems, which should function uninterruptedly. In this chapter, we propose the mathematical study of the stochastic model involved in preventive, corrective, and predictive maintenance policies that require for well-functioning of the machining system. We present a machine repair problem of standbys provisioning in a Markovian environment with unreliable service and vacation interruption. Sensitivity and optimal analysis are done for reliability characteristics and the expected total cost incurred, respectively. The substantial recommendation is proposed for the decision-makers for the optimal design of the machining systems.
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