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

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

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 wit...

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Main Authors: Azizul Baten, Anton Abdulbasah Kamil
Format: Article
Language:English
Published: Hindawi Limited 2009-01-01
Series:Journal of Probability and Statistics
Online Access:http://dx.doi.org/10.1155/2009/370217
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spelling doaj-262ab9f07fa14384a1ed90b1c3cf69b52020-11-25T01:06:28ZengHindawi LimitedJournal of Probability and Statistics1687-952X1687-95382009-01-01200910.1155/2009/370217370217Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing SystemAzizul Baten0Anton Abdulbasah Kamil1School of Distance Education, Universiti Sains Malaysia, 11800 Penang, MalaysiaSchool of Distance Education, Universiti Sains Malaysia, 11800 Penang, MalaysiaThe 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.http://dx.doi.org/10.1155/2009/370217
collection DOAJ
language English
format Article
sources DOAJ
author Azizul Baten
Anton Abdulbasah Kamil
spellingShingle Azizul Baten
Anton Abdulbasah Kamil
Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System
Journal of Probability and Statistics
author_facet Azizul Baten
Anton Abdulbasah Kamil
author_sort Azizul Baten
title Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System
title_short Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System
title_full Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System
title_fullStr Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System
title_full_unstemmed Some Results on Bellman Equations of Optimal Production Control in a Stochastic Manufacturing System
title_sort some results on bellman equations of optimal production control in a stochastic manufacturing system
publisher Hindawi Limited
series Journal of Probability and Statistics
issn 1687-952X
1687-9538
publishDate 2009-01-01
description 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.
url http://dx.doi.org/10.1155/2009/370217
work_keys_str_mv AT azizulbaten someresultsonbellmanequationsofoptimalproductioncontrolinastochasticmanufacturingsystem
AT antonabdulbasahkamil someresultsonbellmanequationsofoptimalproductioncontrolinastochasticmanufacturingsystem
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