EconPapers    
Economics at your fingertips  
 

Value-based production planning in non-ferrous metal industries: Application in the copper industry

Michel Siemon, Maximilian Schiffer, Sumit Mitra and Grit Walther

IISE Transactions, 2020, vol. 52, issue 10, 1063-1080

Abstract: Production planners in the non-ferrous metal industry face an inherent combinatorial complexity of the metal production process within a fast-changing market environment. Herein, we study the benefit of an integrated optimization-based planning approach. We present the first value-based optimization approach for operational planning in the non-ferrous metal industry that yields high economic and technical benefits. We present a mixed-integer linear program for non-ferrous metal operational production planning that covers the complexity of material flows and the entire production process and is amenable for real-time application. We give insights into the practical implementation and evaluation of our modeling approach at a plant of Aurubis, a large European non-ferrous metal producer. Our results show that an optimization and value-based production planning approach provides significant benefits, including a 38% better planning solution in practice. In addition to economic benefits, we highlight the technical advantages that result from a detailed techno-economic representation of the entire production process.

Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/24725854.2020.1711992 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:uiiexx:v:52:y:2020:i:10:p:1063-1080

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/uiie20

DOI: 10.1080/24725854.2020.1711992

Access Statistics for this article

IISE Transactions is currently edited by Jianjun Shi

More articles in IISE Transactions from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2025-03-20
Handle: RePEc:taf:uiiexx:v:52:y:2020:i:10:p:1063-1080