Please use this identifier to cite or link to this item: http://hdl.handle.net/11718/23555
Title: A system dynamics simulation model of a blast furnace for project evaluation
Authors: Dutta, Goutam
Ashtekar, Medha
Keywords: System dynamics;Manufacturing;Minerals and metals;Blast furnace;Simulation
Issue Date: 14-Jul-2017
Publisher: Inderscience
Citation: Dutta, G., & Ashtekar, M. (2016). A system dynamics simulation model of a blast furnace for project evaluation. International Journal of Business and Systems Research, 11(3), 325-343. DOI: 10.1504/IJBSR.2017.10006188
Abstract: The manufacturing of hot metal in a blast furnace is one of the important parts of an integrated steel plant. In a blast furnace, the quality and productivity of the output (hot metal) depends on a large number of input and operating variables. In this paper, we simulate complex interactions of technological and financial variables. We chose system dynamics principles to simulate the blast furnace for project evaluation as a useful aid to managerial decisions. The model would be used to answer a number of questions related to investment decisions. We simulate the actual production of hot metal, accumulated hot metal production, net works cost and cost of hot metal per ton for a period of 36 months with real data.
URI: http://hdl.handle.net/11718/23555
Appears in Collections:Journal Articles

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