In August, there was some good news as wood fell to $399 per thousand board feet.
But that didnt last too long as lumber shot back up by 50 percent a few weeks later.
Meanwhile businesses could be facing increasing construction costs.
At this point you might be asking, where did all the lumber go?
Well explain whats behind the shortage and rising costs and how tech could secure the industry for the future.
Where did all the lumber go?
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However, were introducing high-tech, precise strategies to help fill the existing gaps in the woodwork industry.
Its slow and tedious, and because were human, it often comes with a bunch of errors.
This makes it hard to detect hidden defects, leading to loss of valuable wood.
In this age of lumber shortage, thats a costly mistake for sawmills.
Companies like Finnos offer a way out through tech.
Our solutions help industries get the most out of the raw material without wasting it.
With the growing demand for sustainable building products like wood, solutions like these are super important.
Finnos teamed up with Thoughtworks, global technology consultancy, to infuseartificial intelligenceinto the process.
Aappo Pulkkinen, Lead Data Science Consultant atThoughtworkssaid:
Were currently usingmachine learningto automate decision-making across the production chain.
And the results will only get better as they introduce machine learning to other parts of the business.
Theyre now active in countries across the Nordics, Canada, and Russia with ambitions to grow globally.
Story byMarris Adikwu
Marris Adikwu is a freelance writer with a passion for internet culture.
Her work has been published in Glamour Magazine, New York Magazine, Eater, and more.
In her free time, she writes short stories.
