Wood is a major resource in The Wild Eight. Wood is used in almost everything, from the most basic Sleep functionality of the Shelter all the way to advanced weapons and armor. Because of this, it's a very important resource, and should be hoarded. As with other resources, the best way to do this to construct several Chests wherever your principal starting point is, and spend a decent amount of time simply harvesting resources. A full chest of wood should last you through most crafting paths in the early parts of the game, though obviously more material is needed for advanced Recipes.
In-Game Menu Summary
Resource that can be gathered from forest trees.