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Applying Grey Relational Analysis to Find Interactions between Manufacturing and Logistics Industries in Taiwan

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  • Peng Jiang
  • Yi-Chung Hu
  • Ghi-Feng Yen

Abstract

The development of manufacturing and logistics industries is an important economic index and plays a significant role in developed countries. In Taiwan, both manufacturing and logistics industries have continuously developed in the past few decades, and their development has become interdependent. For instance, the transportation demand of manufacturing industries has an impact on the development of logistics industries. To effectively foster the development of these two sectors in Taiwan, it is necessary to identify the relationships between them. Grey relational analysis with an entropy calculation reveals some interesting findings. (1) The main manufacturing factor driving the logistics industry is employment compensation. (2) The main logistics factor driving the manufacturing sector is length of roads. (3) A fairly strong interaction exists between logistics and manufacturing industries.JEL classification numbers: C33, L60, L90Keywords: logistics, manufacturing, multiple criteria decision making, grey relational analysis, entropy.

Suggested Citation

  • Peng Jiang & Yi-Chung Hu & Ghi-Feng Yen, 2017. "Applying Grey Relational Analysis to Find Interactions between Manufacturing and Logistics Industries in Taiwan," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 7(3), pages 1-2.
    • Handle: RePEc:spt:admaec:v:7:y:2017:i:3:f:7_3_2
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    References listed on IDEAS

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    Cited by:

    1. Peng Jiang & Yi-Chung Hu & Ghi-Feng Yen & Hang Jiang & Yu-Jing Chiu, 2018. "Using a Novel Grey DANP Model to Identify Interactions between Manufacturing and Logistics Industries in China," Sustainability, MDPI, vol. 10(10), pages 1-20, September.
    2. Ioannis E. Tsolas, 2020. "Financial Performance Assessment of Construction Firms by Means of RAM-Based Composite Indicators," Mathematics, MDPI, vol. 8(8), pages 1-16, August.

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    More about this item

    Keywords

    logistics; manufacturing; multiple criteria decision making; greyâ relational analysis; entropy.;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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