A Hybrid Approach for Measuring Productivity in the Global Fitness Industry by Using Grey and DEA Model
Maintaining sustainable development is becoming an important issue for the fitness industry. To solve this problem, the decision-makers need to understand the performance of this industry. This research proposes a hybrid approach based on grey model (GM) and Malmquist productivity index (MPI), to measure operational performance of worldwide fitness manufactures over several periods. From that, decision making units (DMUs) and managers can improve business performance and build a sustainable development strategy. This research conducted on 15 fitness manufactures, by the use of several input and output variables. GM was used to predict the future value of these variables. Following the MPI was used to evaluate performance of all DMUs. The MPI results showed some manufactures become more efficient, while others become less efficient. The results provide past-future insights for decision-maker to sustain fitness requirement manufacturing. The study will be a useful reference for other industries as well.
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