Pradeep H.P
Commerce
December 2022
The primary metal sectors, such as the steel industry, are greatly impacted by the pricing of raw materials. This means that the steel industry's ability to turn a profit over the long term is significantly impacted by the volatility and rate of rise in raw material costs. In order to reduce the pressure that the current problem is placing on the company's profit margins, management have to focus on boosting operational effectiveness. This might be achieved by putting in place a variety of initiatives that are designed to reduce expenses and improve the quality of the final output. The scheduling process aims to maximize yield, which may then be leveraged to reduce production costs. The timetable also aims to shorten the time that is spent waiting between the many steps that are involved in producing steel. Scheduling problems will be resolved by using the simple loading algorithms, which encompass both forward and backward loading. The present study offers a comprehensive analysis of the cost management tactics utilised by certain steel manufacturers located in the Karnataka area. The study intends to shed light on the various strategies and tactics used by major steel businesses to successfully control costs through a thorough analysis. Utilizing a blend of quantitative and qualitative research techniques, such as case studies, interviews, and financial analysis, the study explores the particular cost management strategies implemented in Karnataka's steel industry.
779- 797
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