MaterialsXchange launches updated platform
MaterialsXchange (MX), the digital marketplace to efficiently buy and sell lumber, panels, and other building material (LBM) products, has launched a new e-commerce platform.
The updated marketplace, available at materialsxchange.com, offers a streamlined ordering process where suppliers can list products either as an “ask” or a “bid” and buyers can receive alerts or order products directly.
The technology, powered by Mickey, is designed to make the process for buying or selling wholesale and large-order LBM easier and more efficient – with live, real-time order tracking and pricing transparency.
LBM suppliers can list their products easily, and the MX platform will auto-fill product descriptions and variants making the entire inventory setup fast and frictionless.
Suppliers can also view all pending and shipped orders in one place, send invoices and receive automatic payouts, and directly connect with buyers looking for their specific items. The new platform also provides a one-stop shop for buyers to source exactly what they need, place an order and see real-time shipping prices and delivery updates.
“MaterialsXchange has been, and continues to be, leading the charge for the digital revolution taking place in commodity lumber and panels,” said Steve Coppola, vice president, LENCO Supplies. “There is nothing that compares to the speed, efficiency, and simplicity of MX when buying or selling these products. Where else can you name your price, and quite literally have all of the shopping, paperwork, and shipping done for you...all with the click of a button? LENCO Supplies is excited to see where MX leads the industry now and into the future, both in lumber and panels as well as other products.”
“Since launching in 2020, our focus has been on making it easier for LBM buyers to source the products they need on a single, digital platform,” said Mike Wisnefski, president, MaterialsXchange. “With our new updated platform, we’re making it even easier for buyers and sellers to transact – all with complete transparency and at the click of a button. No longer do orders need to be handled in an antiquated way, but now the entire experience – from accepting digital payments via ACH, to automated sales tax calculation and remittances – makes the MX platform the easiest place for LBM transactions to take place.”
In September 2022, Chicago-based MaterialsXchange joined forces with Mickey, a tech company that builds B2B e-commerce platforms and marketplaces. MX leveraged Mickey OS, the tech company’s backend operating system, to rebuild the platform and offer a truly automated and streamlined ordering experience.
“This new platform will disrupt the way the industry has done business – and we’re hearing from users that is what they had been asking for all along,” said Ashley Boeckholt, chief revenue officer, MaterialsXchange. “Sellers can also offer risk-free terms via our payment processing partner Balance, making it a win-win for both sides of the transaction.”
The MaterialsXchange platform currently lists softwoods and panels – from Alder to Elm, as well as OSB and other LBM products. With the site’s ask/bid pricing structure, when a buyer negotiates a price and it’s matched – the transaction occurs instantly. The prices are real-time market prices and buyers will see a complete and transparent final order that includes shipping and handling and taxes.
Mickey’s Chief Technology Officer, Weston Stewart-Tennes, added, “Rebuilding the MX platform to provide a better and more robust UX was paramount, and we believe that both suppliers and buyers will find the updated marketplace even easier to use. LBM buyers can learn more about the products they’re ordering – including all of the traditional lumber variants – along with the delivered price. With MX there are never hidden fees or surprise surcharges and buyers can receive updates on the delivery of their order – 24/7. We believe the technology powering the new MX platform will continue to disrupt this antiquated industry.”
