In this paper a new approach to the cutting stock (CS) problem as one of the activities in the CS process is proposed. A thorough critical review of the literature is conducted in order to identify the main limitations of the current state of research. The main finding is that the CS problem is treated too narrowly and that the connection of the CS process with other processes in a company, along with a better transfer of information, should be studied further. The paper presents a methodology for evaluating CS process renovation benefits. A process flowchart technique is used to compare as-was and as-is states, and simulations are conducted to provide an estimate of the benefits and to compare the costs of trim loss with other production costs. A case study of a company involved in non-ferrous metal and iron retail activities is used to analyse the effects of renovation of the whole CS process, which led to a considerable reduction in cutting costs and lead times. A decrease in the variability of the CS process lead time is also noted, which can lead to a more standardised fulfilment of customers' orders. The measurement and reduction of costs can improve the competitiveness of companies that undertake cutting or similar (e.g. packing) operations in production.