The optimization of production cost has always been a key issue in manufacturing systems; for the single product type manufacturing systems, lots of research studies have proved the validity of the hedging point control policy in production cost control. However, due to the complexity of the multiple machines and multiple product types manufacturing systems with uncertain fault, it is difficult to achieve a good control effect only by using the hedging point control policy. To optimize the total production cost under constantly changing demands, an integrated control policy that combines the prioritized hedging point (PHP) control policy with the production capacity planning during production is proposed, and the decision variables are obtained by a particle swarm optimization (PSO) algorithm. The simulation experiments show the effectiveness of the proposed integrated control policy in production cost control for the multiple machines and multiple product types manufacturing system.