I actually went to college and got a degree geared to working in the furniture industry when I graduated. I was about to pull the trigger on going to NC State because they had a great furniture program in the engineering school. At the last minute, I found out about a new furniture program and research center at State that was in the works for a few years down the road... I did some military time in between the start and finish of that degree (late 90's-mid 00's.) By the time I finished, it became very clear that if I wanted a long, lucrative career in the furniture industry, I should have majored in Mandarin. So when I graduated, I went into the hardwood lumber and plywood industry.
Drying gum is an absolute bítch. I worked at a furniture factory with a similar setup. We dried gum by loading concrete weights on the top bunk... By weights, it was a solid slab of concrete 6" thick. About 70% was usable after, but the other 30% had to be ripped down and edge glued. Sycamore was terrible too. And of course cottonwood... Speaking of cottonwood, there's a company in Lubbock, Texas called O'Hair Shutters that somehow uses cottonwood.. I know Batesville Casket uses it, but caskets are kind a forgiving... Shutters are extremely difficult for woods that move in the slightest because they have to be so precise since ever shutter is custom made effectively... how those fools are drying cottonwood in Lubbock and getting it to stay dimensionally stable is one of the great mysteries of the hardwood industry. They never let any sales reps in and apparently keep it ultra secret in house as well. I know they buy it green and rail it into Lubbock and try it themselves.
Plywood is great for production costs, but is not stronger or more stable than properly dried hardwoods. Give me a properly dried oak, ash, maple, hickory or a thousand other things any day. I sold 40 containers a month of hardwood plywood and 80 truckloads of hardwood lumber a month at one point in time... 90% of which was going to cabinet and furniture manufacturers the rest went to high end millwork and flooring outfits.
Cabinets and furniture frames - Particleboard < Plywood < Hardwood
Trim and millwork - MDF < Finger Joint Pine < Hardwood
Flooring - Laminate < Engineered Wood < Solid Hardwood
The furniture frame industry buys pretty low end hardwoods... As they should. That definitely makes it harder. And honestly, most plants in MS are/were building pretty low end upholstered furniture. Flipping to panels was a no brainer for promotional furniture. I even saw some using osb for frames. The coolest thing I remember seeing in furniture factory was a CNC bandsaw. You could stack like 15 sheets of 23/32" plywood and cut them all at once. The table moved around the saw. You couldn't get real intricate, but for basic rails on a sofa, it was hard to beat the production. 1 CNC bandsaw could out pace 6-8 CNC routers.