Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System

الملخص EN

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.