Supply Chain Innovation 2024: A Formula for Thriving in the Age of Disruption
When it comes to managing a successful global supply chain in turbulent times, innovation is the order of the day. But what it actually brings to the organization is a matter for debate.
A lot of the innovation stories that we hear today trumpet one singular benefit: competitive advantage. We’re told that the company that strikes out boldly with new ideas is destined to land at the head of the pack, while stragglers peel off and wither away. But what if everyone is thinking and acting creatively? Then innovation becomes, not a means of achieving dominance, but one of mere survival.
So which is it? A sure-fire path to success, or ticket of admission? It hardly matters. Because the past few years, dominated by COVID-19, geopolitical strife, soaring costs and ever-shifting consumer demand, have taught us that standing still isn’t an option. Think of it as a scientific formula: disruption>inspiration>innovation. (Forgive me for not expressing this in symbols. I am anything but a math whiz.)
Of course, innovation in global supply chains, in the form of new ideas in distribution, transportation and technology, has been brilliantly evident long before these most recent crises. Over the past 19 years, we at SupplyChainBrain have had the privilege of monitoring some of the best ones by way of the Supply Chain Innovation Award, which we launched and continue to judge in partnership with the Council of Supply Chain Management Professionals. The hundreds of submissions that we’ve reviewed over that time highlight an astonishing range of creative initiatives, by companies both private and public, across multiple industries.
This year is no exception, and as always, we feature the finalists in our annual issue devoted to the SCIA award. The winner for 2024 is Shippeo, which enabled France’s Renault Group to achieve real-time visibility of automotive parts and components moving from suppliers to the plants. By adopting the vendor’s cutting-edge technology for reconciling critical logistics and production data, Renault was able to shrink delivery times, reduce inventory and slash logistics expense — and, most importantly, improve the end-customer experience.
This year’s additional finalists are:
The 2024 SCIA runner-up, trucker PITT OHIO, which partnered with Maven, a developer of artificial intelligence software, to implement an AI-driven platform for automating the management of its entire fleet of drivers across its U.S. operations centers.
BP and Jones Lang Lasalle, which entered into a highly collaborative contract for real estate management based on the “vested” supplier-buyer relationship methodology pioneered by the University of Tennessee.
Barrett Distribution Centers, which acquired warehouse drones from Gather AI to count and track the extensive inventory of Stadium Goods, a retailer of highly valuable aftermarket sports apparel and memorabilia.
The 57th Munitions Squadron (MUNS) at Nellis Air Force Base, which turned to SEE ID for a track-and-trace logistics system employing 5G connectivity, long-range radio-frequency locating of trailers, and AI for optimizing warehousing and distribution throughout the base.
We congratulate the winner and finalists of this year’s Supply Chain Innovation Award competition, and trust that their examples will motivate others to seek out new ideas and solutions for coping in our current age of disruption. (As if you had any choice.) And we urge you to submit your own innovation stories for the 2025 competition. The entry period opens right after the new year.