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Transient Analysis
A state is said to be transient if it is impossible to move to that state from any other state except itself. This state is temporary and eventually a steady state is reached. This analysis can be performed using usual probability transition matrices.Absorbing State
A state is said to be an absorbing (or Trapping state) state if it is impossible to leave the state. This will occur if any Pn is equal to 1.0Example:
Since p11 = 1.0, state A is an absorbing state. This state represents the conditions, under which the modeled process can terminate. All other states of the model are transient states.
INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials
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identify and explain the many classification of costs for planning, control.performance evaluation and decision making.
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Value analysis Is a formalized technique involving a rigorous analysis of products at the design stage or at any time during the saleable lives, to determine their value charac
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