Supplier Selection Model Based on the Grey System Theory

2008 ◽  
Author(s):  
Zou Huixia ◽  
Yu Tao
Keyword(s):  
System Theory ◽  
Supplier Selection ◽  
Grey System Theory ◽  
Selection Model ◽  
Grey System ◽  
Model Based

A grey-based decision-making approach to the supplier selection problem in a steelmaking company

2017 ◽  
Vol 7 (3) ◽  
pp. 385-396 ◽  
Author(s):  
Ali M. Abdulshahed ◽  
Ibrahim A. Badi ◽  
Mohamed Mehemed Blaow
Keyword(s):  
System Theory ◽  
Decision Making ◽  
Supplier Selection ◽  
Grey System Theory ◽  
Decision Makers ◽  
Strategic Decision ◽  
Selection Problem ◽  
Selection Strategy ◽  
Grey System ◽  
Content Type

Purpose The purpose of this paper is to propose a supplier selection method using grey system theory for a steelmaking company in Libya. Design/methodology/approach In order to tackle incompleteness and imprecision of human’s judgments, grey numbers were used. This work uses a grey-based approach to represent decision makers’ comparison judgments and extent analysis method to select the best supplier. Therefore, an example of a selection problem of a steelmaking company in Libya was used to illustrate the proposed approach. Findings Supplier selection in a supply chain is a critical strategic decision for company’s success and has attracted much attention of both academic scholars and decision makers. The authors have found that the Grey model can play an important role in improving supplier selection strategy, especially when it is in a situation where complex sustainability environments (i.e. Libya) exist. Originality/value No literature has been found till date for selection of supplier using grey system theory in a steelmaking company in Libya. An attempt in this regard could enhance a decision-making technique for selecting the best suppliers for the selected case company.

Forest fire spread model based on the grey system theory

2018 ◽  
Vol 76 (5) ◽  
pp. 3602-3614 ◽  
Author(s):  
Chundong Lv ◽  
Jia Wang ◽  
Fanfei Zhang
Keyword(s):  
System Theory ◽  
Forest Fire ◽  
Fire Spread ◽  
Grey System Theory ◽  
Grey System ◽  
Model Based ◽  
Spread Model ◽  
Fire Spread Model

The Prediction for Sewage Emissions in Xi'an Based on the Theory of Grey System

2014 ◽  
Vol 1079-1080 ◽  
pp. 539-542
Author(s):  
Wei Sun ◽  
Xiao Jun Liu
Keyword(s):  
Water Pollution ◽  
System Theory ◽  
Water Scarcity ◽  
Industrial Wastewater ◽  
Domestic Sewage ◽  
Grey System Theory ◽  
Basic Data ◽  
Grey System ◽  
Model Based ◽  
Discharge Volume

The water pollution and water scarcity have restricted the development of economy seriously in Xi'an. And the wastewater quantity is an important basic data in solving this problem. This paper build GM(1,1) model based on grey system theory to predict the discharge volume of urban domestic sewage and industrial wastewater from 2013 to 2020. The predictions suggest that the discharge amount of industrial wastewater will reduce by 6.7005 million tons per year. While the amount of domestic sewage increases year by year at the speed of 11.0989 million tons. The percentage of domestic sewage in total sewage emissions will get bigger in Xi'an. Additionally, some suggestion about improving the efficiency using of water and reducing sewerage discharged are given.

Prediction of Technical Reserves Based on Grey Model — GM(1,1): Evidence from Non-life Egyptian Insurance Market

2019 ◽  
Vol 10 (9) ◽  
pp. 852-860
Author(s):  
Mahmoud Elsayed ◽  
◽  
Amr Soliman ◽  
Keyword(s):  
System Theory ◽  
Grey System Theory ◽  
Insurance Market ◽  
Grey Model ◽  
Loss Ratio ◽  
Grey System ◽  
Mathematical Technique ◽  
Supervisory Authority ◽  
Error Ratio ◽  
Using Data

Grey system theory is a mathematical technique used to predict data with known and unknown characteristics. The aim of our research is to forecast the future amount of technical reserves (outstanding claims reserve, loss ratio fluctuations reserve and unearned premiums reserve) up to 2029/2030. This study applies the Grey Model GM(1,1) using data obtained from the Egyptian Financial Supervisory Authority (EFSA) over the period from 2005/2006 to 2015/2016 for non-life Egyptian insurance market. We found that the predicted amounts of outstanding claims reserve and loss ratio fluctuations reserve are highly significant than the unearned premiums reserve according to the value of Posterior Error Ratio (PER).

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