Optimistic Implementation of Supply Chain Management in Small & Medium Enterprise: Approach using Grey Relational Analysis (GRA)

Supply chain management (SCM) is very well known efficient and effective managerial tool to check and analyze the performance of any enterprises. In the present work, efforts have taken to analyze and optimize the performance of small & medium enterprise (SME) in Pune region India. For this purpose a SCM based framework is prepared to get the realistic data from the industries through the questionnaire prepared on the basic of literature and the expert opinions. After finalizing the effective framework fitted to the various enterprises, a data in the pointer scale has been collected from the various stakeholders of the enterprises. The grey relational analysis (GRA), a multi-response optimization tool has been effectively used for getting the optimize result which will help the enterprises to plan the strategies for the betterment of the enterprises. Optimum results were implemented in the other enterprises. The responses were measured and compare with the optimum solution. From the responses, it has been observed that there is a significant enhancement in the response level of the other enterprises. Thus the SCM was effectively used for enhancing the performance of the SMEs in the region.      

Keywords:

Grey relational analysis , Grey relational grade , Optimization , Performance , Supply chain management , Small and Medium enterprise