An Approach to Raw Material Cost Control Model in Iron and Steel Industry

Abstract:

Raw material cost control is becoming an important aspect in the steel enterprise’s cost management, as the raw material cost occupies a large proportion in the cost of product. Therefore, the raw material cost control model which ensures the minimum raw material cost with the qualified contents of chemical ingredients in the product is established. The arithmetic based on Lagrange multipliers is proposed to solve the described model. The model verification provides great support for reducing the cost and configuring resources optimally.

• Periodical: Advanced Materials Research (Volumes 287-290)
• Pages: 92-95
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.287-290.92
• Online since: July 2011
• Authors: Wan Lei Wang, Qiu Nan Meng, Xiao Bing Liu
• Keywords: Cost Control, Iron and Steel Industry, Lagrange Multipliers, Raw Material

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