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price transparency in real-time
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network of digitally connected users
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a streamlined October 2020 payment process
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Fostering the evolution of commerce in commodity raw materials.
Why Is Our Industry So Afraid of Change? By Ashley Boeckholt Chief Revenue Officer
I
f we have learned anything from 2020, we must understand that change is the only thing we can rely upon, and by using yesterday’s logic to deal with tomorrow’s challenges, we will hit a proverbial wall. History teaches us that the future success of a business directly relates to its ability to adopt and integrate new technology. Undoubtedly, new and better technology leads to both cost and personnel efficiencies; information and data are processed quickly and accurately. So why is our industry so afraid to adopt a new way of doing business, where prices are transparent and data is at your fingertips? Last year, Jeremy Donovan was teaching AP Calculus and Engineering. He knew nothing about lumber. But this year, when the opportunity to use his math skills in an innovative way emerged, he had to give it a shot. Donovan went to work for the German company Kullik & Rullmann AG in their US sales office. The company recognized his tech savviness and hired Donovan to undertake ecommerce of lumber, a totally new realm for their business. They understood, plainly, that this digital transformation was happening with or without them. Why not join the progress? The first sale Donovan EVER made, in any industry, was on MaterialsXchange’s digital marketplace for lumber. Having to learn the lumber business and understand its market, Donovan appreciates MX’s organized format. At a glance and in real-time, MX allows him to surf prices for all products listed, giving him more time to study the industry. Hiring Donovan meant that Kullik & Rullmann AG could unlock and develop technology, modernizing their internal workings. For Donovan, technology lends itself to naturally educate him on the industry. Being able to see demand without having to manage logistics, only materials, is beneficial. Donovan said that he is able to “manage transactions without full time eyes on it. I don’t have to secure a truck or wait to see who is selling what in the market. MaterialsXchange has and does it all right there for me.” More free time means more time spent exploring opportunities, and since future success relies on one’s ability to adopt new technology, learning the tech and forging ahead means progress. Someone will always make that leap of faith, to try something new, so why not stay ahead?
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