An exemplary embodiment of the invention relates to a method, system, and storage medium for providing a dynamic multi-dimensional commodity modeling process. The system includes a data collection component operable for collecting raw data, a dynamic multi-dimensional commodity model component, and a commodity tree generated by the dynamic multi-dimensional commodity model component. The system also includes a closed loop/corrective action component operable for resolving nonconformance issues resulting from analysis of the raw data and commodity tree, and an analytic engine in communication with the data collection component, the multi-dimensional commodity model component, and the closed loop/corrective action component. The analytic engine receives the raw data from the data collection component, receives the commodity tree, performs analytics on the raw data according to rules defined by the commodity tree, and transmits any nonconformance data resulting from performing the analytics to the closed loop/correction action component for resolution of any identified nonconformances.