Application of Operation Research in Steel Industry


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

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

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