WoolQ™ is the result of 3 years of wool industry review and consultation, commencing with the Wool Selling System Review (WSSR) in October 2014.
In October 2014 AWI commissioned an arms length review of the existing wool selling system to determine whether greater efficiencies, increased competitive tension and improved transparency could be delivered in the journey of wool from the shearing shed to the ship’s rail for export. AWI empanelled an independent group of thought leaders to conduct this review.
The review, which took nearly 18 months was deliberately highly consultative in order to achieve maximum buy-in from all industry participants. The panel conducted two rounds of industry consultation in the form of an issues paper and a discussion paper and conducted more than 50 one on one meetings with major industry stakeholders as well as receiving more than 100 submissions in response. In addition, an industry workshop session was attended by more than 100 industry stakeholders where issues relating to the process of wool selling were discussed in an open forum. The final review paper was completed and submitted to the AWI board in December 2016.
The major recommendation of the Review was the concept of a Wool Exchange Portal (WEP), an online tool that could address the major issues identified in the WSSR as well as respond to the original key objectives of the review.
The concept of a WEP was then developed by a working group of industry participants including growers, brokers, buyers and a number of individuals representing wool industry institutions and other commercial interests. After twelve months of consultation, debate and business scoping the key functionality of a WEP was developed and a robust business case delivered to the AWI board. In June 2017 the WEP working group submitted the business case and the recommendation to proceed with the building of the WEP, now known as WoolQ™.