Tech Solutions for Wood Trade Compliance
Tech Solutions for Wood Trade Compliance
International Wood asked Colin Miller, Chief Compliance Officer for Clarke Veneers and Plywood and founder of technology company 11Foundry, to share his perspective on the development of tools that compliance professionals can use as they work to meet the Due Care requirements of the Lacey Act and other relevant laws and regulations.
For readers from the design community who may not be familiar with wood products compliance issues, what are some of the challenges your clients face in meeting the requirements of the Lacey Act and other laws and regulations?
Regulatory compliance, especially with the Lacey Act, is never one-size-fits-all. Every decision has to be justified, documented, and retained, which requires some kind of technology infrastructure. Most technology solutions force users to go down a specific path, and any company that doesn’t fit that path is left with messy infrastructure that is tough to leverage, automate, audit, or even understand.
How does 11Foundry help overcome those challenges?
Our FiberTrace™ software is designed for rapid, cost-effective deployment for any size company, with minimal disruption to existing protocols. Even more importantly, it was built by industry users to solve the everyday challenges of managing and using a due diligence capability. FiberTrace™ provides critical features like role-based access, workflow automation, risk assessment recording, document storage, and complete system auditability, all through a very user-friendly, secure, and cloud-based interface.
What do you see over the horizon? What should wood products specifiers be looking out for?
From stakeholder capitalism and the conscientious consumer, to increased environmental regulation and information security challenges, the world is changing fast. In order to stay relevant, the wood industry and its users have to innovate. Technology solutions like FiberTrace™ are powering an exciting new combination of transparency and privacy. Product information and supply chain documents can be shared easily and securely between suppliers, processors, and specifiers looking for strong environmental credentials. This is absolutely crucial, because our industry needs to show the world that wood, as a building material, can be good for communities and for our planet.
Frequently asked questions
What are the main compliance challenges companies face under the Lacey Act?+
Lacey Act compliance is never one-size-fits-all. Every decision must be justified, documented, and retained, which requires technology infrastructure. Most existing solutions force users down a rigid path, leaving companies with messy infrastructure that is difficult to leverage, automate, audit, or understand.
What is FiberTrace and how does it support wood trade due diligence?+
FiberTrace is a cloud-based software from 11Foundry designed for rapid, cost-effective deployment at any size company with minimal disruption to existing protocols. It offers role-based access, workflow automation, risk assessment recording, document storage, and complete system auditability through a user-friendly, secure interface.
Who developed FiberTrace and why does that matter?+
FiberTrace was built by industry users to solve the everyday challenges of managing and using a due diligence capability. This means its features are grounded in the real-world needs of compliance professionals in the wood products trade.
How can technology help balance transparency and privacy in the wood supply chain?+
Solutions like FiberTrace allow product information and supply chain documents to be shared easily and securely between suppliers, processors, and specifiers seeking strong environmental credentials. This combination of transparency and privacy helps the industry demonstrate that wood can be good for communities and the planet.
What emerging trends should wood products specifiers watch for?+
Specifiers should watch for stakeholder capitalism, the rise of the conscientious consumer, increased environmental regulation, and information security challenges. Staying relevant will require the wood industry and its users to innovate through technology-driven solutions.
Why is due care documentation important for wood products companies?+
Regulatory compliance requires that every decision be justified, documented, and retained to meet Lacey Act and related requirements. Without proper infrastructure for document storage, auditability, and risk assessment, companies cannot effectively demonstrate due care.