Prediction of logistics volume based on grey model and Markov chain.

Logistics volume prediction plays an important part in logistics system planning, operating and management. In order to rationally predict the logistics volume, we put forward the grey Markov model combining grey system theory and Markov chain. This method synthesizes the advantages of GM forecasting method, which is simple and needs less original data, and of Markov method which possesses the characteristics of random fluctuation. We can obtain the overall developing trend of logistics volume by predicted mean value and maximum status probability. [ABSTRACT FROM PUBLISHER]