Home / Knowledge / News / Textiles / Digital wool exchange platform for Australian industry
Digital wool exchange platform for Australian industry
09
Jun '17
The AWI Wool Exchange Portal working group (WEP-WG) has endorsed the construction and implementation of a digital wool exchange platform for the long-term benefit of the Australian wool industry. The business case developed by the group has identified $38 million in consolidated industry benefits over the first 15 years of the digital selling platform.

WEP-WG chairman, Will Wilson has presented the group's findings to the AWI Board -the main recommendation being to move to the "discovery phase", where industry moves to build the portal.

The WEP will deliver greater pricing efficiency and increased competition within the wool selling system as well as provide all industry participants with a one stop port where all buying and selling options can be transparently evaluated and future price realisation mechanisms can be accommodated and made available.

The WEP-WG has proposed to engage current online commodity market operators to help develop the WEP and has already received proposals from 10 potential vendors. This allows industry to target specialty service providers to best fit the various offerings that WEP will aim to provide. It will also be a more cost effective use of funds and reduce the likelihood of duplication where certain software may already exist.

WEP-WG members have long been engaged in consultation, discussion and consensus on the initiative. The industry and stakeholder consultation with the WEP began in 2014 and has a significant number of meetings, discussions and publications.

A subset of the WEP-WG is likely to remain intact to act as a steering committee to provide direction to an internal WEP project team. During this phase the project team will work with the selected vendor to generate detailed functional requirements specification (utilising user sceanarios / stories), detailed solution architecture (including data integration requirements), detailed integrated implementation roadmap including finalised resource plan, and operating model design and strategy (including decisions regarding the commercials to access the required historical and current data) to be defined.

The team will also change management strategy and deployment plan. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: H&M

Apparel/Garments | On 15th Dec 2017

H&M, Alibaba extend collaboration

H&M has extended collaboration with Alibaba with the opening of its...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search