Finite Markov Chain in Inventory Control

M.S. Sinaga; O. Purba; H. Nasution

doi:10.1088/1742-6596/1462/1/012039

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Finite Markov Chain in Inventory Control

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M.S. Sinaga, O. Purba, H. Nasution

2020 Journal of Physics: Conference Series Vol. 1462 Issue 1 Conference paper Cited by 1 SDG 7SDG 16

Abstract

In this paper we present an introduction to the finite markov chain. Transition probabilities are calculated, as well as a transition probability matrix. We present the necessary fundamentals of probability theory on markov chains for stochastic processes and stochastic modelling in inventory control. © Published under licence by IOP Publishing Ltd.

Affiliations

Universitas Negeri Medan, Jl. Williem Iskandar Pasar V, Medan, Indonesia

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