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A fast dynamic heat and mass balance model of a walking beam reheat furnace was developed and validated with the data from a 275 t h 21 industrial furnace. The model divides the furnace into well stirred zones, and from air and gas flowrates into individual zones, preheated air temperature and slab locations, calculates in each zone the temperature of gas and temperature profile of refractory, two-dimensional temperature profile of slabs and scale thickness on horizontal surfaces of slabs. The model can be used for offline analyses and is fast enough for online use, where it can handle the steady operation and the special cases like delay, empty furnace and the gradual filling or emptying of the furnace. The details of the model and the validation results are presented here, together with the sensitivity analysis of the key parameters, and the study of options for fuel savings and the reduction in skidmark severity.