This is the best idea.First, make sure he has plenty of appropriate chew toys. You can find chews that have a similar texture to wood. I think they're kind of messy, though.
Are you supervising your pup? If you see him start to chew on furniture, redirect him to an appropriate toy and praise him for using it. When you can't supervise, he should be crated so he can't practice that behavior.
Some people have even gone as far as penning off the rooms where the wooden furniture is, or penning off the furniture itself with x-pen panels for particularly determined dogs.