- Achieving an impressive milestone, the online collaboration platform facilitates one million pallet transactions in under eight months, setting a new pace for operations.
- Introducing PalletTrader+, a new, enhanced managed service offering,a superior solution expanding upon the original self-service ecommerce platform for efficient sourcing, purchasing, and selling of pallets.
- Responding to the needs of large corporations, the platform provides a comprehensive third-party solution armed with dedicated resources and in-depth expertise to oversee and implement all aspects of pallet procurement and supply.
- Streamlining business operations, the platform tackles a $7 billion U.S. market that includes over 500 million circulating “white wood” pallets amongst a vast network of retailers, consumer packaged goods businesses, pallet producers, recyclers, and distributors.
SOUTH PLAINFIELD, NJ – PalletTrader, an online platform exclusively tailored for pallet sourcing, purchasing, and selling, which launched last October, has broadened its services with the introduction of PalletTrader+. The unveiling of this new feature aligns with the platform’s remarkable achievement of facilitating over one million pallet transactions within its initial eight months of operation.
PalletTrader+ is a managed service offering seamlessly integrating an industry-standard online collaboration platform and digital transaction processing. This service employs dedicated resources and expertise to oversee the sourcing, procurement, and supply of pallets on behalf of businesses.
The initiative responds to demands from enterprise clients who usually operate more intricate supply chains, encompassing multiple manufacturing and distribution sites requiring steady pallet supply. These businesses desire a more all-encompassing outsourced solution, states John Vaccaro, president of Bettaway Supply Chain Services, the company that built and independently operates PalletTrader as a neutral ecommerce platform.
“This is the natural evolution of a marketplace,” explained Vaccaro. “PalletTrader+ is for those large enterprises who want to take advantage of dynamic market procurement opportunities but don’t want to staff or manage it,” he explained. “They want a hybrid model where they have control but engage with a dedicated expert specialist to operate and execute the function for them at arm’s length.”
PalletTrader+ follows a familiar outsourcing playbook
Vaccaro noted that PalletTrader+ is following a familiar logistics outsourcing playbook. “It’s the same concept as a business hiring a third-party logistics provider to source and manage their freight trucking needs or operate a warehouse on their behalf.”
A client who opts for managed services typically submits a forecast of pallet requirements on a daily, weekly, or monthly basis. In response, the PalletTrader+ team engages in the detailed strategizing and legwork to realize this plan, maintaining frequent communication with the client to manage and accommodate any evolving needs.
Vaccaro highlighted that the platform was initially conceived and launched as an all-encompassing self-service tool, empowering countless small-scale pallet depot operators, who are generally sellers of pallets, to digitally connect with an extensive array of buyers and tap into new markets. This particular segment had minimal or no access to ecommerce technology to streamline pallet transactions. Concurrently, he anticipated that as the platform gathered momentum, a demand would surface among larger clients for an upgraded service.
“Reaching the one million pallets transacted milestone in less than eight months, and successfully onboarding hundreds of pallet buyers and sellers during that time, far exceeded our expectations,” Vaccaro said. “As we got more feedback from users, it was clear that larger businesses were interested in a more robust offering, providing a planning and execution component that they could launch quickly, and leverage value from both enabling technology, and skilled personnel with deep market expertise. That’s what we’re providing with PalletTrader+.”
Vaccaro and his team also encountered a significant demand from corporate users, particularly larger enterprises, for a credit option. In the existing self-service model, buyers and sellers list, bid, negotiate, finalize a sale, and execute an immediate payment in one transaction.
However, with the advent of PalletTrader+, eligible corporate users can avail themselves of a credit line. In this program, the platform records and combines all pallet transaction activity. Subsequently, the system issues a consolidated invoice that encapsulates all activity throughout the designated period.
“This offering is good for any company that operates or is responsible for pallets at multiple locations and is especially ideal for those businesses that operate in both a company owned and outsourced warehouse co-pack network,” Vaccaro concluded.
Bettaway has financed, constructed, and now operates PalletTrader as an impartial, standalone online business platform. This platform facilitates and streamlines the digital commerce and trade of pallets within a cooperative, secure eCommerce setting. It offers its user community an array of workflows and tools, significantly enhancing the efficiency of pallet supply and management.