@DavidBrowne has mentioned the option of SIMPLE recovery mode if you don't need point-in-time recovery.
But if you do need FULL recovery, you can and should still simplify your scripts:
Your transaction file would be tiny if not for steps 2, 3 and 4, which should be removed.
There is no need to shrink the DB, it clearly needs to be the size it is. Shrinking ...