Optimization of Material Procurement Plan - A Database Oriented Decision Support System
Recently, the business in steel has undergone a sea change. Customer requirements for steel products have become increasingly demanding in terms of better quality and specification. Globalization has thrown open the market to intense competition. The rise in raw material cost has put pressure on steel industry to optimize the procurement strategy time to time. It has become imperative to re-look at the production strategies and production costs to work out methods to address the market situations in a dynamic manner. Minimization of the production cost in a Blast Furnace (BF) in an integrated steel plant is a complex problem as it associates the quality, quantity, cost & freight of raw materials along with the production targets and present operating regimes.