Launched in 2000, BuyMetrics may be one of the LBM industry’s best kept secrets. Long marketed exclusively by word-of-mouth referral, the online commodity procurement system is widely used by lumber/panel buyers at industry-leading firms across North America. BuyMetrics’ clients vary from focused one-buyer operations to large publicly traded multi-national corporations with dedicated commodity teams.
The company offers a comprehensive set of solutions laser-focused on commodity wood procurement, connectivity, and data services. At its core, BuyMetrics is a collection of very smart tools that enable lumber buyers to excel at their mission-critical jobs.
Every month more than 1,200 individual (non-duplicated) seller agents actively quote their customer’s RFQs and receive POs via BuyMetrics’ Connections Portal. Because BuyMetrics is a collaborative tool for existing trade partners, it is designed for maximum flexibility.
The BuyMetrics commodity procurement platform is:
— Dedicated to serving buyers (not an exchange, zero transaction fees).
— Branded per client, customized per buyer, functions as buyer’s proprietary workspace.
— Facilitates private buyer/seller communications (relationships matter).
— Automates repetitive tasks/calculations that slow buyers down.
— Increases buyer productivity 1.5-3X.
— Increases capacity to handle peak loads, source supply- constrained material.
— Decreases cost of goods sold, best-price assurance through extended market reach.
— Measures results, buyers have the data, including enriched data (metrics) they need to make timely decisions, refine strategy, systematically improve outcomes.
— Transforms commodity procurement into a core business process, visible, measurable, teachable.
A pioneer in SaaS technology and digital transformation, BuyMetrics was built from the ground-up to be offered as a service, on a subscription basis. The BuyMetrics procurement platform comes in two editions: BuyMetrics ENTERPRISE and BuyMetrics PRO.
The ENTERPRISE package is designed to serve corporate buyers, enabling them to execute their strategy quickly and precisely. With functionality customizable down to individual buyers, ENTERPRISE supports spot market buys, programs/ catalogs, formula-defined contracts, tally loads, PTS contracts, forward-price transactions and arbitrage-like strategies. Metrics provide guidance, and ongoing analytics measure performance (on-the-fly), provide vendor scorecards, and strategic insight. ENTERPRISE is designed to interface with corporate ERP systems.
The PRO package is designed to ensure quick and easy deployment, pre-configured for the purchase of lumber and panels. PRO economically delivers BuyMetrics functionality to clients that do not require all the customizable features ENTERPRISE offers (such as back-office integration).
When it comes to measuring results, BuyMetrics measures itself as well. Following 2021’s extraordinarily volatile, supply-constrained market, the company reached out to BuyMetrics users for input, then took a deep-dive into 2021’s purchase data. They found:
1. 100% of buyers responding to a January 2022 user survey agreed or strongly agreed that in 2021 BuyMetrics had helped them to “rapidly work with their vendors to cover their company’s most pressing lumber requirements.” 83.3% said BuyMetrics had helped them “find and buy more lumber.”
2. BuyMetrics found 2021’s supply-driven cycle had produced twice the CoG savings for BuyMetrics’ users than the demand- driven boom and bust cycles. For details, see Case Study: Cost- of-Goods Savings 2021 on BuyMetrics’ website, buymetrics.com.
The company was founded in 1995 by Valerie Hansen, a hands-on lumber buyer and former third-generation owner/CEO of Big Buck Building Centers Inc, in Racine, Wisconsin. From 2000-2019 the U.S. Patent and Trademark Office awarded Hansen 21 patents for inventions in the technical areas of finance and data processing assigned to BuyMetrics. BuyMetrics Director of Development, Scott Moll, has led the company’s development effort for the past 23 years.
Hansen adds, “BuyMetrics was born of the industry, is known for its deep industry expertise. We diligently build best-of- breed solutions that maximize the buyer’s control of spend, automate routine tasks, and minimize industry pain points. We’re just about the polar opposite of a hyped, VC funded venture looking for a market to disrupt.”
Learn more at buymetrics.com