Some results on Bellman equations of optimal production control in a stochastic manufacturing system (Q609673): Difference between revisions
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Revision as of 03:06, 20 March 2024
scientific article
| Language | Label | Description | Also known as |
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| English | Some results on Bellman equations of optimal production control in a stochastic manufacturing system |
scientific article |
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Some results on Bellman equations of optimal production control in a stochastic manufacturing system (English)
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1 December 2010
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The paper studies an optimal control problem in a manufacturing system with degenerate stochastic demand. The admissible controls are nonnegative production processes. The existence of a unique solution of the Hamilton-Jacobi-Bellman (HJB) equation associated with this problem is established. The optimal control is given by a solution of the HJB equation. The sections of the paper are Introduction; Riccati-based solution of Hamilton-Jacobi-Bellman equation; Bellman equations for discounted cost control; an application to production control.
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manufacturing system
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stochastic optimal control
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Bellman equation
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optimal production control
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production inventory system
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