MaterialsXchange (MX), a digital marketplace designed to efficiently buy and sell lumber, panels, and other building material products, launched its new e-commerce platform. The updated marketplace 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 products easier and more efficient, according to MX.
“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,” Mike Wisnefski, President of MaterialsXchange, said in a prepared statement. . “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.”
LBM suppliers can list their products 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 products, place orders, and see real-time shipping prices and delivery updates.
“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.”
In September 2022, MaterialsXchange joined forces with Mickey, a technology 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.
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 and 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.