Photo from wikipedia
Abstract This paper applies the Markov chain to model a product’s lifecycle. Given the initial condition, the model is used to predict important information about the behavior of the product… Click to show full abstract
Abstract This paper applies the Markov chain to model a product’s lifecycle. Given the initial condition, the model is used to predict important information about the behavior of the product throughout its lifecycle. The predictions include the number of visits made by the product to a lifecycle stage, expected quantity of products that visit a lifecycle stage, product’s mean duration of stay in a lifecycle stage, probability and the expected quantity of products being discarded, and the average total environmental impact caused by the products. The model is validated by applying it to analyze the lifecycle of plastic produced in 2015.
Journal Title: Procedia Manufacturing
Year Published: 2020
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!