Authors :
Soumya Agrawal; Hansika Sachdeva; Abhinav Sheoran; Kirti Jindal; Neeransh Goel
Volume/Issue :
Volume 7 - 2022, Issue 10 - October
Google Scholar :
https://bit.ly/3IIfn9N
Scribd :
https://bit.ly/3AeTrkX
DOI :
https://doi.org/10.5281/zenodo.7325391
Abstract :
In the paper, we have discussed the
Application of Operation Research in the steel industry,
and how its tools have helped the industry in tackling
different kind of problems by creating implemental
solutions to complex business challenges. Steel industry is
playing an important role in Indian economy as it can
steer India towards $ 5 trillion economy by 2025, as per
the EY-CII report, which makes the development of the
industry even more important. We have shown the
existing use of Operation Research in the industry to
exhibit its potential.
Keywords :
ABC Analysis, EOQ Analysis, Decision Model, Lagrangian Relaxation, Transportation Model, Network Analysis, LPP, Monolithic Model, Integer Programming, Six Sigma, Decision Making
In the paper, we have discussed the
Application of Operation Research in the steel industry,
and how its tools have helped the industry in tackling
different kind of problems by creating implemental
solutions to complex business challenges. Steel industry is
playing an important role in Indian economy as it can
steer India towards $ 5 trillion economy by 2025, as per
the EY-CII report, which makes the development of the
industry even more important. We have shown the
existing use of Operation Research in the industry to
exhibit its potential.
Keywords :
ABC Analysis, EOQ Analysis, Decision Model, Lagrangian Relaxation, Transportation Model, Network Analysis, LPP, Monolithic Model, Integer Programming, Six Sigma, Decision Making
