Grey Relation Analysis Methodology and its Application

Grey Relation analysis was developed by Deng and most widely used model of Grey system. Model is applied between known and unknown information, which is grey in nature. Condition with clearly defined information is named as white and no information as black, in between as Grey. The grey theory is applied in various filed including manufacturing, process and service operations. The theory is also applied in selection process which involves multiple selection attributes. The paper focuses on fundamentals of method, steps required to follow and various applications of method. This paper will be of assistance to the researchers and industries to understand basics of theory and to know its application in real life problems.