Competitiveness Evaluation of Manufacturing Industry based on Weighted Grey Correlation

Abstract

Manufacturing industry is playing an important role in social and economic system,while it is “big but not strong” that is more prominent in developing regions. In order to upgrade manufacturing industry, competitiveness evaluation of manufacturing industry is studied based on weighted grey correlation using analytical hierarchy process and grey correlation analysis.First, statistical data concerned withmanufacturing industry competitiveness are summarized and compared in six developing regions. Then, an evaluation system of manufacturing industrycovering 22 indicators is constructed from economics, scale, R&D and ecology points of view. Furthermore, by using weighted grey correlation which is combined with analytic hierarchy process and grey correlation analysis methods, a simulation approach considering uncertainty on weight and identification coefficient is developed to make a more reliable assessment. Finally, on the basis of the models and approaches, an empirical study on manufacturing industry competitiveness is carried out and simulation results show that this novel approach can provide information and insights for competitiveness evaluation.