Some results on bellman equations of optimal production control in a stochastic manufacturing system

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Baten A., KAMIL A. A.

Journal of Probability and Statistics, 2009 (Scopus) identifier


The paper studies the production inventory problem of minimizing the expected discounted present value of production cost control in a manufacturing system with degenerate stochastic demand. We establish the existence of a unique solution of the Hamilton-Jacobi-Bellman (HJB) equations associated with this problem. The optimal control is given by a solution to the corresponding HJB equation. © 2009 A. Baten and A. A. Kamil.