Supply Chain Innovation 2024: A Formula for Prosperity in an Age of Change

When it comes to managing a successful global supply chain in turbulent times, innovation is the order of the day. But what this actually brings to the organization is a matter of debate.

Many of the innovation stories we hear today proclaim one single benefit: competitive advantage. We are told that a company that boldly comes up with new ideas is destined to be at the head of the pack, while the laggards split off and languish. But what if every think and act creatively? Then innovation will become not a means of achieving dominance, but a means of simple survival.

So what is it? The right path to success or the entrance ticket? It hardly matters. Because the past few years, dominated by COVID-19, geopolitical strife, rising costs and ever-changing consumer demand, have taught us that standing still is not an option. Think of it as the scientific formula: breakthrough > inspiration > innovation. (Sorry I don’t express this in symbols. I’m not much of a math genius.)

Of course, innovation in global supply chains in the form of new ideas in distribution, transportation and technology was clearly evident long before the latest crises. Over the past 19 years we have SupplyChainBrain we have the privilege of tracking some of the best through the Supply Chain Innovation Awards, which we established and continue to evaluate in partnership with the Council of Supply Chain Management Professionals. The hundreds of applications we have reviewed during this time demonstrate an amazing range of creative initiatives undertaken by both private and public companies across a range of industries.

This year is no exception and, as always, we feature the finalists in our annual SCIA Awards feature. The winner in 2024 will be Shippeo, which allowed France Renault Group provide real-time visibility of automotive parts and components moving from suppliers to factories. By adopting the supplier’s advanced technology to harmonize critical logistics and production data, Renault was able to reduce delivery times, reduce inventory and logistics costs – and, most importantly, improve the end customer experience.

Additional finalists this year:

2024 SCIA Runner-up Trucker. PITT, Ohio who collaborated with Maven, artificial intelligence software developer to implement an AI-powered platform to automate the management of its entire fleet of drivers at its US operations centers.

BP And Jones Lang Lasalle, which entered into a joint property management contract based on the supplier-buyer relationship methodology pioneered by University of Tennessee.

Barrett Distribution Centers, which purchased warehouse drones from Collect A.I. count and track extensive inventories Stadium goods, retailer of highly valuable repurposed sports apparel and memorabilia.

57th Munitions Squadron (MUNS) Nellis Air Force Basewhich turned into VIEW ID for a logistics track and trace system using 5G connectivity, long-range RF trailer detection and artificial intelligence to optimize warehousing and distribution across the base.

We congratulate this year’s Supply Chain Innovation Award winners and finalists and believe their examples will encourage others to seek new ideas and solutions to cope with the current era of change. (As if you had a choice.) And we encourage you to submit your innovative stories to the 2025 competition. Applications open immediately after the new year.