A Good Solution Instead of an Optimal One

Published Online:https://doi.org/10.1287/inte.12.2.37

The objective of the present work, which was sponsored by the French Ministèrs de l'Industrie, is to save “vulnerable” metals, i.e., those for which supply is uncertain and/or those that have to be imported. The production of alloys at the lowest price from a number of stocks of scrap alloys of various composition and from unalloyed metals has been achieved through the use of a new algorithm built into a computer program. The method differs from the usual linear programming and avoids the shortcomings of the well-known algorithms. Results are given showing the profits foundries can achieve when using this algorithm. Finally, some practical aspects of the introduction of this software in a foundry are presented, with unexpected consequences on the replacement of used-up stocks.

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