The New Jersey-based online pallet-trading marketplace PalletTrader is planning to expand its managed service program and digital eMarketplace for pallet sourcing and supply to Canadian shippers, the firm said today.The managed services platform offers end-to-end pallet management for enterprise manufacturers, distributors, and 3PLs, said John Vaccaro, president of Bettaway Supply Chain Services and PalletTrader. Those who use the system can advertise inventory, reach new customers, and streamline transactions and payments, he said.PalletTrader also has an open market functionality where independent sellers can post individual inventories, pricing and delivery timelines, and promote those to any potential buyer. Availability of the open marketplace, which also includes digital transaction settlement and payment, will be launched later this year.Launched in the U.S. in 2022, the service is significant because industry estimates peg the addressable market for white wood pallets at some $7 billion with over 500 million “one-way” white wood pallets in circulation in North America, the firm said. There are more than 1,500 pallet “depots,” virtually all of which are independent businesses, each of which could have as few as five or as many as 1,000 customers. The cost of a white-wood pallet can range anywhere from $3 to $25, depending on demand, condition, size and material cost.
