Global Sourcing Project of the Year

Emirates Steel

Graphite Electrodes

The target of this initiative was to implement strategy to fix long term contracts for Graphite Electrodes (GE) while the market forecast showed a steep bullish trend following a low demand year of 2020.

Implementing this strategy would enable Emirates Steel (ES) to have a stabilised pricing over a longer term and would serve as a barrier against the market turbulence.

It would also open new opportunities for ES to expand the supplier base from the current region centric situation to a more global approach.

This strategy would also support ES to achieve sustainable savings in future.

Judges’ comments: 

Excellent achievement during a very critical time that the supply chain was facing. The submission relays the theme and ES has demonstrated a successful global sourcing project. Considering difficulties the market is facing in different commodities the results in procurement savings and supply security were outstanding.