Did you see what changed today in the lumber trade?
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Today’s announcement of Mickey and MaterialsXChange joining forces prompts the question: What does this news mean for Yesler and for lumber buyers and sellers?
We are in the early innings of the digital transformation of a huge industry. As these two startups put their pieces together into one, the news has triggered new inquiries into how this market is being transformed by tech. That type of inquiry can help both Yesler and the newly merged companies, as participants from our traditional, slow tech-adoption industry see the momentum and the capital being invested in developing technology to advance this industry.
Those new eyes on Yesler and other innovators will see common themes like a digital trade. As they look deeper they’ll uncover differences in strategy and philosophy on the role of brands and trader identity, who books freight, manages credit and payment, and even differences in how trust is created via technology in an industry with a history of big trades on verbal commitment.
So what does this mean for Yesler? The combination of these two companies is another sign of the progress this industry is making in understanding how technology will transform the trade. As technology advances, to those who haven’t yet investigated how lumber trading will move for or against you, this is one more sign that the time to reach out and learn more is now!