Lumber prices up again due to impact of Canadian floods | Furniture industry shows fast growth in Dec. | How to capitalize on the Fourth Industrial Revolution
Damp November and December weather in western Canada is still disrupting the lumber market, with futures rising this month to $1,234 per 1,000 board feet, a level that hasn't been seen since June 7. Supply-and-demand forces are behind the increase, but ERA analyst John Cooney says renovation and repair work could take a hit if prices stay above $1,000 much longer.
The furniture industry's fast growth in December topped all but one other industry in the 15 tracked by the Institute for Supply Management. Supply chain and labor problems didn't prevent furniture from experiencing growth in new orders, production and inventories.
Western Digital CEO David Goeckeler says the Fourth Industrial Revolution will rely on workforce engagement and infrastructure readiness. Meanwhile, Protolabs is offering many ways to train, upskill and retain workers, including a learning portal, certifications, tuition reimbursement and fitting technology into the day-to-day work, says CEO and President Robert Bodor.
Ken Simonson, chief economist for the Associated General Contractors of America, says he is "nervously optimistic" about the construction industry's prospects for 2022, citing an upswing in nonresidential construction and an improved outlook for material prices marked by price volatility instead of a steadily upward trend. Simonson is more concerned about contractors' ability to combat an endemic labor shortage amid a shifting vaccine mandate landscape.
The labor challenges facing manufacturing highlight the public's need for education and should be considered "an opportunity for manufacturers to continue to sell their business to the employee population out there," says Paul Wellener of Deloitte. The trend "is gonna be bringing back jobs that are frankly more highly skilled, more technical, and there are gonna be jobs that are gonna be those well-paying long-term jobs that fit into our manufacturing society," Wellener says.
Mae Bowley, executive director of the Re:Purpose Savannah wood salvage company in Georgia, and her all-female team may be a rarity in the construction industry, but that doesn't stop their commitment to historic preservation. Bowley's five-member crew gently dismantles historical houses and buildings to remove sturdy old wood for sale and reuse.
Legal issues are expected to arise from new environmentally sustainable procurement rules ordered by President Joe Biden, which focus on considering climate change in federal purchasing, writes Christopher Yukins of George Washington University Law School. Yukins writes that past performance, trade challenges and technical responsiveness may also generate legal questions.
Finland-based Finnos is using artificial intelligence to make lumber industry processes faster, such as an X-ray system that generates wood quality data in an instant and matches it to appropriate end-use products. AI and machine learning tools can reduce waste and make it easier and faster for end users to build sustainable structures.
In light of the success achieved to date in JB Cutting's cabinet door and wood component manufacturing business and to further accelerate its growth plan, JBC is pleased to announce a strategic reorganization of its executive team. Read more.
The Association of Woodworking & Furnishings Suppliers® (AWFS®) is a non-profit organization that owns and produces the biennial AWFS®Fair. AWFS® members include manufacturers and distributors of machinery, hardware, software, tooling, components, wood products and supplies for the wood industry. To learn more, visit http://www.awfs.org/.
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Association of Woodworking & Furnishings Suppliers® (AWFS®)