Modified GM (1, 1) Models for Demand Forecasting of wheat in Pakistan

In this paper, we used Grey modeling as a tool to forecast the demand of wheat in Pakistan. Forecasting of demand with high accuracy is also very important for industrial production. The main objective of the study is to analyze advantages of grey systems forecasting models. For this purpose two new modified forms of GM (1, 1) model are proposed. The original and modified model test will be used to forecast the future demand. Through simulated results, this study showed that both of two modified models are suitable but first modified GM (1, 1) is excellent model in forecast with less average relative error. Hence first modified GM (1, 1) model is strongly suggested for forecast the demand wheat production in Pakistan.