IJIRST –International Journal for Innovative Research in Science & Technology| Volume 4 | Issue 10 | March 2018 ISSN (online): 2349-6010 All rights reserved by www.ijirst.org 21 Future Optimization Solution for Managing Scraps in Medium & Large Scale Manufacturing Industries Dr. G. Balamurugan S. M. Prabhakaran Assistant Professor Student Department of Management Studies Department of Management Studies Anna University (BIT Campus), Trichy, India Anna University (BIT Campus), Trichy, India Abstract It is unlucky, but many medium and large scale manufacturing industries in South India don’t take improvement of the financia l prospect that scrap material from their manufacturing process presents. They think of this material as a “crucial sin” of the ir business without accepting the benefits and protection that a proficient scrap management program can provide. Usually, scraps can create a great deal of further revenue for their industry. In addition, Manufacturers won`t gives attention to scraps because they don`t tolerably track and control the scrap they are selling. This study focuses on to give future optimization solution that helps in managing scraps effectively and with profitability in medium and large scale manufacturing industries. Keywords: Scrap, optimization, Profitability, Revenue, Manufacturing _______________________________________________________________________________________________________ I. INTRODUCTION Iron and steel continue to be the leading metals used by the several medium and large scale manufacturing industries especially in areas such as defense, machinery, consumer-goods industries, industrial equipment manufacturing and automobile industries. Most of the medium and large scale manufacturing industries buy their raw materials from SAIL (Steel Authority Of India Limited). For each and every product to be manufactured, scraps will arise in a large manner. Most of manufacturers have the same question in mind “Why should we manage scraps”. Scrap by meaning “ discarded metal for reprocessing” or by definition “waste metal or used articles made of metal, often collected and reprocessed”. The scrap managing sector is considerably important to the manufacturing supply chain, contributing 130 million net tons of feed stock yearly for steel mills worldwide. For the scrap industry, one of the key utensils in allowing it to be thriving in recovering the material is the manufacturing shredder, an innovation that the scrap industry says ranks in importance at the side of such other renovating technologies as the printing press, internal combustion engine and the personal computer. Finally, a technology emerged that could help managing scraps keep pace with the pace of giving additional revenue for the manufacturers. Normally in selling scrap, the following two principles rule: 1) Know what you're selling Vs what you're getting paid for. 2) Incorporate sorting and cleaning-up in your production stream to reduce the sorting and cleaning costs your recycler must subtract from your price per pound. II. CURRENT SCRAP PREPARATION TECHNIQUES: Manual Sorting and Preparation Large items such as boilers, columns, I-sections, beams, appliances and structural steel must be cut to allow them to be charged into a furnace. This can be done by using shears, hand-held cutting torches, crushers or shredders. Manual sorting obviously involves the removal of components from the scrap by hand. It is most suitable when mixed attachments have to be removed from the scrap or when manual off-loading is inevitable. The separation of metallic from non-metallic is also often accomplished manually. Magnetic Separation Magnetic separation is used when a huge amount of ferrous scrap must be divided from other materials (Ferrous scrap from boilers). Permanent magnets and electromagnets are used in this process. Magnetic partition can be of either the belt-type or the drum-type. In the drum, a permanent magnet is located inside a rotary shell. Material passes under the drum on a belt. A belt separator is parallel except that the magnet is located between pulleys around which an incessant belt travels. Magnetic separation has some limitations. It cannot separate iron and steel from nickel and magnetic stainless steels. Also, combined parts containing iron will be collected and could contaminate the melt. Hand sorting may be used in combination with magnetic separation to avoid these occasions.