Australian Wool Innovation (AWI) made announcement about two reports on supply chain and price risk management in the Australian wool industry, Fibre2Fashion reported.

AWI Supply Chain and Wool Quality Program Manager Dr Paul Swan said closer relationships with end users, risk management strategies and value adding were important to the future of Australian wool growers and this was why AWI had commissioned the reports 12 months ago.

"AWI commissioned these studies to provide information for the company's strategic planning and development, but also, just as importantly, as a resource for all Australian woolgrowers and businesses through the processing pipeline," he said.

Both reports, together with the company's initial position, are available on the AWI website at http://www.wool.com.au/.

"AWI is considering the findings and to this end welcomes all feedback from growers and other industry stakeholders," Dr Swan said.

"AWI is already very active in many key areas identified in the supply chain report, particularly in relation to building closer relationships and working with end users - the product developers, manufacturers and retailers - to build demand for Australian Merino wool."

Further, Dr Swan said many areas identified in the reports would be of particular interest to commercial businesses involved in the industry in both supply chain and price risk management.