Applications of grey prediction model for quantity prediction of medical supplies: A case study

As an important method for modern scientific management, accurate prediction is the precondition of policy and decision making. In this paper, the metabolic sub-sequence of GM(1,1), the topological order sub-sequence of GM(1,1), and the grey series in head position sub-sequence of GM(1,1) were used to forecast the medical oxygen consumption. A rolling check method was applied to examine the prediction accuracy of the model. The result showed that the metabolic sub-sequence of GM(1,1) provided the best prediction accuracy, which may provide valuable information for optimizing purchase management and inventory control.