Forecasting and Measuring Productivity in Vietnamese Plastic Industry by Using Grey and DEA

Improving productivity performance and sustaining development is becoming an important issue for the plastic industry of Vietnam. This research proposes a hybrid approach based on grey model (GM) and Malmquist productivity index (MPI), to predict and measure operational performance of Vietnamese plastic manufacturing companies over several time periods. From that, decision making units (DMUs) and policy-maker can improve business performance and build a sustainable development strategy. The study conducted on 29 plastic companies, which have published their complete information on Vietstock site. The result showed seventeen companies increased in productivity while the other twelve didn't. Technical change was more impact than efficient change in period 2013 – 2016. In general, both of them impact on Vietnam's plastic industry productivity. The results also reflect the fact that the performance change did not depend on company size. The study will be a useful reference for other industries as well.