A Multi Objective DSS for Optimization of Ferro- Alloy Cost Using LIPSOL

The steel industries in the modern scenario is striving hard to maintain the high quality standard and at the same time keeping the production cost low. The above scenario also demands an efficient decision support system to take right decision at right time. The current work proposes a mathematical model and solves it using different software to achieve both the quality of steel i.e. the required chemistry and minimize the cost of production simultaneously. The developed model is also validated using data from the steel plants. Taking the right decision requires highly experienced individuals. Due to lack of highly experienced and capable experts the task of decision making in steel industries have become tough. The already existing decision support systems lack in efficient reasoning mechanism on which the success of the decision support system depends.