Mumbai, May 25 2024: Tata Steel has been awarded the prestigious Franz Edelman Finalist Award by the Institute for Operations Research and Management Sciences (INFORMS), USA, during the Edelman Gala night at INFORMS Business Analytics Conference 2024, Orlando, USA, on April 15, 2024. Recognised as the world’s leading Operations Research and Analytics Award, this accolade celebrates successful industrial applications of operations research.
Tata Steel’s project on the Optimisation of Continuous Annealing Process was selected as a finalist after a rigorous three-month assessment by INFORMS Society assessors. In the steel industry, continuous annealing is crucial for controlling the quality of cold-rolled steel strips through heat treatment. The project demonstrated significant improvements in quality, reduction in specific fuel consumption, and decreased CO2 emissions. The Tata Steel team, with support from their academic consultant, IIT Bombay, successfully implemented this innovative solution, showcasing the power of analytical decision-making in industrial processes.
This achievement places Tata Steel alongside esteemed global organisations such as American Airlines, McDonald’s China, ALDI Süd Germany, Molslinjen Denmark, and Transvision Netherlands, all of whom were finalists.
During the Edelman Gala night, Tata Steel and IIT Bombay were inducted as members of the prestigious Franz Edelman Academy. Membership in the Franz Edelman Academy signifies a distinguished contribution to the field of analytics and inspires other organisations to explore opportunities for improvement through innovative applications of analytics.
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