An optimization-based decision support system for strategic and operational planning in process industries

An optimization-based decision support system for strategic and operational planning in process industries

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Article ID: iaor2005686
Country: Netherlands
Volume: 5
Issue: 3
Start Page Number: 295
End Page Number: 314
Publication Date: Sep 2004
Journal: Optimization and Engineering
Authors: ,
Keywords: Steel industry
Abstract:

We describe how a generic multi-period optimization-based decision support system can be used for strategic and operational planning in process industries. Built on five fundamental elements – materials, facilities, activities, time periods and storage areas – this system requires little direct knowledge of optimization techniques to be used effectively. Results based on real data from an American integrated steel company demonstrate significant potential for improvement in revenues and profits.

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