MaterialsXchange partners with Raven Logistics

MaterialsXchange, the Chicago-based commodity trading platform, has entered into a new partnership with Raven Logistics.

The move provides MaterialsXchange users with a complete supply chain efficiency and cost solution, including rail transportation.

Raven Logistics provides live updates and solutions for the transportation of products via rail lines. This was an element missing from the MaterialsXchange platform. While MaterialsXchange presents live information on trucking transportation prices, now it can complete the picture with rail solutions.

“The reason we got together with Raven Logistics is to provide total supply chain efficiency,” Ashley Boeckholt, MaterialsXchange chief revenue officer and co-founder, told HBSDealer. 

MaterialsXchange went live last fall with the objective of providing an efficient, digital solution for managing the supply chain of millions of truckloads of North American softwood lumber and structural wood panels.

Mike Wisnefski, CEO of MaterialsXchange, said the added rail logistics will help buyers make better purchase determinations. This includes the ability for buyers and sellers to see a combination of market and transportation costs for materials.

"If you put yourself in the shoes of a sawmill, they negotiate with the carrier who provides service to their location," Wisnefski said. "The rail carrier gives delivery pricing but sometimes it takes a week to get the price back. Now you can get a price instantly."

Raven also provides reload and trucking cost and logistics solutions, ramping up MaterialsXchange offerings even further.

Based in Naples, Fla., Raven has about 55 clients, including Fortune 500 companies, who utilize Raven’s managed services and technology. The majority of these clients are within the forest products industry.

MaterialsXchange said it expects to fully integrate technology and information from Raven Logistics into its own platform by the end of the third quarter.