Model of efficiency improvement in purchasing strategic raw material in a metallurgical company

Abstract

The present paper focuses on the efficiency improvement of the strategic raw material (iron ore) purchase process in a metallurgical company and its management with the aim to minimize costs. The authors have come up with the proposals for an efficiency improvement and cost reduction model on the basis of the identification of significant dependencies between individual purchase functions while considering media contained in the technological process.

Keywords

• raw material
• iron ore
• purchase
• stock level