Business challenge A leading global steel manufacturer was facing volatile commodity prices and challenging overall business conditions, which together led to pressure to deliver higher cost savings. The Smart Cube, as the company’s long-term procurement intelligence and analytics partner, was tasked with providing commodity insights to inform pricing negotiation discussions with suppliers in high-spend categories, with the objectives of reducing costs and improving contract terms. The Smart Cube solution The first stage of The Smart Cube’s solution was a price benchmarking exercise, to map the current costs of the company’s various commodities against underlying price indexes, and provide insights into market rates and trends. Additional information such as market dynamics, price

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