WoolClip Sets New Standard for Declaration Completion

Australian Wool Exchange’s Digital Tool Drives Industry Transformation

The Australian Wool Exchange (AWEX) has announced a significant milestone for its innovative digital tool, WoolClip. In the 2023/24 season, WoolClip achieved a remarkable 96.6% National Wool Declaration (NWD) completion rate, far surpassing the national average of 75.4%.

This achievement underscores WoolClip’s pivotal role in revolutionizing wool clip information, quality assurance, and traceability across Australia. With over 260,000 bales processed through its digital wool book in the 2023/24 season, WoolClip empowers users to enhance quality, transparency, and efficiency from farm to market. For July to October 2024 WoolClip has recorded an 18.3% growth on the same period last season.

WoolClip in Context

WoolClip’s achievement of a 96.6% NWD completion rate is significant for several reasons:

  1. Increased Efficiency and Transparency: WoolClip’s digital platform streamlines the process of creating wool specifications, consignments, and NWDs, making it easier for wool producers and brokers to manage their wool clips. This increased efficiency and transparency benefits the entire wool supply chain.   

  2. Improved Quality Assurance: The higher NWD completion rate indicates a greater focus on quality assurance and traceability in the Australian wool industry. This benefits buyers and consumers who demand high-quality, ethically sourced wool products.

  3. Enhanced Sustainability: WoolClip’s integration with the Australian Wool Sustainability Scheme (AWSS) supports the industry’s commitment to sustainable practices. This is increasingly important as consumers become more conscious of the environmental and social impacts of their purchases.  

  4. Strengthened Global Market Position: By providing reliable, timely, and quality business information, WoolClip helps Australian wool producers compete more effectively in global markets. This benefits the Australian economy and supports regional communities.

Overall, WoolClip’s success demonstrates the power of digital innovation to transform traditional industries like wool production.

A Vital Wool Tool

By embracing technology and streamlining processes, the Australian wool industry is well-positioned to thrive in the 21st century.

“WoolClip is an innovative industry asset, developed in Australia for the Australian wool industry,” said David Cother, General Manager – Wool Operations at AWEX.

“The higher NWD rate is just one example of how WoolClip (technology) enables and supports users in providing reliable, timely, and quality business information.”

AWEX provides a range of services, including wool marketing, market information, and technical support for the Australian wool industry. Download the WoolClip media release here.

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Photo by Loic Leray on Unsplash