CHICAGO, May 30, 2024 – project44, the leader in supply chain visibility and the only High-Velocity Supply Chain Platform, today announced the company’s strong financial and operational results in the 2024 fiscal year. In FY 2024, project44 successfully executed on multiple business initiatives including significant investments in AI to enhance Movement™ to solve the world’s most complex supply chain challenges, expanding its international footprint, partnering with more major global enterprises and strengthening its executive team to position project44 for the next stage of growth.
“Over the past year, we were reminded of the fragility of supply chains as extreme weather and geopolitical conflicts continue to disrupt global trade,” said Jett McCandless, Founder and CEO of project44. “Our innovations are equipping global brands to be resilient and maintain high-velocity in the face of never-normal supply chains.”
project44 concluded FY 2024 with over 30% year-over-year growth in Software-as-a-Service (SaaS) and total GAAP revenue. With continued expansion of its network, project44’s platform provided unmatched breadth and depth of visibility. To meet growing demand, project44 opened a new European hub in Kraków, Poland. The company also added new customers in FY 2024 — including notable global brands like Toyota, Coca Cola European Partners, Kawasaki Heavy Industries, Ltd. and Constellation Brands.
New Products & Extended Capabilities
Among project44’s most notable accomplishments in FY 2024 was its rapid pace of innovation. A few highlights include:
• Extended Visibility: Released multiple AI-powered enhancements, merging data from carriers and freight forwarders to deliver complete, door-to-door visibility and eliminate costly blind spots at interchanges
• Data Quality Enhancements: Invested in new technologies to help shippers and carriers identify and address carrier data quality issues, leveraging machine learning to fix errors before they degrade tracking capabilities
• China Over-the-Road (OTR) Visibility: Became the only vendor with authorization to transfer logistics data in and out of China, expanding the network by 8+ million vehicles and improving visibility into lanes used by 94% of the world’s largest shippers
• Multimodal Rating & Booking: Introduced APIs to source rates across the carrier network without costly integrations and centralize spot and contract rate data on Movement, which streamlines rate requests and tender processes
• Configurable Branded Tracking & Alerts: Rolled out self-service capabilities to transform the E-Commerce delivery experience and cut customer service calls by 50%, allowing retailers and brands to create differentiated post-purchase consumer experiences that drive loyalty and reduce “Where is my order?” queries
More than a dozen separate innovations are represented in the summary of new products and expanded capabilities described above, and analysts and awards committees took notice, recognizing project44’s contributions in FY 2024. Notably, project44 was positioned highest in “Ability to Execute” and furthest right on “Completeness of Vision” in the 2023 Gartner® Magic QuadrantTM for Real-Time Transportation Visibility Platforms. The company also won the prestigious Chicago Innovation Award and was named a Top Supply Chain Visibility Provider in Food Logistics’ 2023 Top Software & Technology Awards for its breakthrough Movement by project44™ platform.
In recognition of its contributions to customer success, project44 won the Google Cloud Industry Solution Technology Partner of the Year Award for Supply Chain and Logistics and was named Customers’ Choice in the Gartner® Peer InsightsTM “Voice of the Customer” report. In addition, project44 received an SAP® Pinnacle Award in the Business Network category and maintained Leader status across multiple seasons of reports from G2.
Expanded Executive Team
In FY 2024, project44 bolstered its executive team to prepare for the next phase of growth. The company strategically appointed SaaS and logistics industry veterans with experience managing high-growth companies, including:
• Tim MacCarrick as Chief Financial Officer
• Renee Mauldin as Chief People Officer
• Rick Turco as Chief Revenue Officer
• AJ Wilhoit as Chief Product Officer
Customer Insights
"At ASICS, we value project44 for its comprehensive ocean analytics and the accuracy of the data it provides, which is critical for our decision-making processes. With real-time visibility and data-driven insights, project44 empowers our team to make informed decisions quickly,” said Roy Nijman, Global Head of Business Transformation SCM at ASICS. “This operational agility enhances our ability to better serve our customers, making project44 an invaluable partner in our pursuit of supply chain excellence."
“We are thrilled with our partnership with project44, a significant step in advancing our supply chain operations and service excellence," said Antonino Arena, Specialties BU Supply Chain Sr. Manager at Prysmian. "This collaboration allows us to leverage project44’s expertise in dynamic ocean visibility and predictive capabilities, which are critical for our complex logistics needs. By integrating these advanced technologies, we are set to enhance the reliability and efficiency of our cable deliveries worldwide. We anticipate a highly productive relationship with project44, as we continue to innovate and improve our operational capabilities to better serve our customers and lead in the market."
Just 29% of supply chain organizations have the competitive characteristics they’ll need for future readiness, according to a Gartner survey released Tuesday. The survey focused on how organizations are preparing for future challenges and to keep their supply chains competitive.
Gartner surveyed 579 supply chain practitioners to determine the capabilities needed to manage the “future drivers of influence” on supply chains, which include artificial intelligence (AI) achievement and the ability to navigate new trade policies. According to the survey, the five competitive characteristics are: agility, resilience, regionalization, integrated ecosystems, and integrated enterprise strategy.
The survey analysis identified “leaders” among the respondents as supply chain organizations that have already developed at least three of the five competitive characteristics necessary to address the top five drivers of supply chain’s future.
Less than a third have met that threshold.
“Leaders shared a commitment to preparation through long-term, deliberate strategies, while non-leaders were more often focused on short-term priorities,” Pierfrancesco Manenti, vice president analyst in Gartner’s Supply Chain practice, said in a statement announcing the survey results.
“Most leaders have yet to invest in the most advanced technologies (e.g. real-time visibility, digital supply chain twin), but plan to do so in the next three-to-five years,” Manenti also said in the statement. “Leaders see technology as an enabler to their overall business strategies, while non-leaders more often invest in technology first, without having fully established their foundational capabilities.”
As part of the survey, respondents were asked to identify the future drivers of influence on supply chain performance over the next three to five years. The top five drivers are: achievement capability of AI (74%); the amount of new ESG regulations and trade policies being released (67%); geopolitical fight/transition for power (65%); control over data (62%); and talent scarcity (59%).
The analysis also identified four unique profiles of supply chain organizations, based on what their leaders deem as the most crucial capabilities for empowering their organizations over the next three to five years.
First, 54% of retailers are looking for ways to increase their financial recovery from returns. That’s because the cost to return a purchase averages 27% of the purchase price, which erases as much as 50% of the sales margin. But consumers have their own interests in mind: 76% of shoppers admit they’ve embellished or exaggerated the return reason to avoid a fee, a 39% increase from 2023 to 204.
Second, return experiences matter to consumers. A whopping 80% of shoppers stopped shopping at a retailer because of changes to the return policy—a 34% increase YoY.
Third, returns fraud and abuse is top-of-mind-for retailers, with wardrobing rising 38% in 2024. In fact, over two thirds (69%) of shoppers admit to wardrobing, which is the practice of buying an item for a specific reason or event and returning it after use. Shoppers also practice bracketing, or purchasing an item in a variety of colors or sizes and then returning all the unwanted options.
Fourth, returns come with a steep cost in terms of sustainability, with returns amounting to 8.4 billion pounds of landfill waste in 2023 alone.
“As returns have become an integral part of the shopper experience, retailers must balance meeting sky-high expectations with rising costs, environmental impact, and fraudulent behaviors,” Amena Ali, CEO of Optoro, said in the firm’s “2024 Returns Unwrapped” report. “By understanding shoppers’ behaviors and preferences around returns, retailers can create returns experiences that embrace their needs while driving deeper loyalty and protecting their bottom line.”
Facing an evolving supply chain landscape in 2025, companies are being forced to rethink their distribution strategies to cope with challenges like rising cost pressures, persistent labor shortages, and the complexities of managing SKU proliferation.
1. Optimize labor productivity and costs. Forward-thinking businesses are leveraging technology to get more done with fewer resources through approaches like slotting optimization, automation and robotics, and inventory visibility.
2. Maximize capacity with smart solutions. With e-commerce volumes rising, facilities need to handle more SKUs and orders without expanding their physical footprint. That can be achieved through high-density storage and dynamic throughput.
3. Streamline returns management. Returns are a growing challenge, thanks to the continued growth of e-commerce and the consumer practice of bracketing. Businesses can handle that with smarter reverse logistics processes like automated returns processing and reverse logistics visibility.
4. Accelerate order fulfillment with robotics. Robotic solutions are transforming the way orders are fulfilled, helping businesses meet customer expectations faster and more accurately than ever before by using autonomous mobile robots (AMRs and robotic picking.
5. Enhance end-of-line packaging. The final step in the supply chain is often the most visible to customers. So optimizing packaging processes can reduce costs, improve efficiency, and support sustainability goals through automated packaging systems and sustainability initiatives.
Geopolitical rivalries, alliances, and aspirations are rewiring the global economy—and the imposition of new tariffs on foreign imports by the U.S. will accelerate that process, according to an analysis by Boston Consulting Group (BCG).
Without a broad increase in tariffs, world trade in goods will keep growing at an average of 2.9% annually for the next eight years, the firm forecasts in its report, “Great Powers, Geopolitics, and the Future of Trade.” But the routes goods travel will change markedly as North America reduces its dependence on China and China builds up its links with the Global South, which is cementing its power in the global trade map.
“Global trade is set to top $29 trillion by 2033, but the routes these goods will travel is changing at a remarkable pace,” Aparna Bharadwaj, managing director and partner at BCG, said in a release. “Trade lanes were already shifting from historical patterns and looming US tariffs will accelerate this. Navigating these new dynamics will be critical for any global business.”
To understand those changes, BCG modeled the direct impact of the 60/25/20 scenario (60% tariff on Chinese goods, a 25% on goods from Canada and Mexico, and a 20% on imports from all other countries). The results show that the tariffs would add $640 billion to the cost of importing goods from the top ten U.S. import nations, based on 2023 levels, unless alternative sources or suppliers are found.
In terms of product categories imported by the U.S., the greatest impact would be on imported auto parts and automotive vehicles, which would primarily affect trade with Mexico, the EU, and Japan. Consumer electronics, electrical machinery, and fashion goods would be most affected by higher tariffs on Chinese goods. Specifically, the report forecasts that a 60% tariff rate would add $61 billion to cost of importing consumer electronics products from China into the U.S.
That strategy is described by RILA President Brian Dodge in a document titled “2025 Retail Public Policy Agenda,” which begins by describing leading retailers as “dynamic and multifaceted businesses that begin on Main Street and stretch across the world to bring high value and affordable consumer goods to American families.”
RILA says its policy priorities support that membership in four ways:
Investing in people. Retail is for everyone; the place for a first job, 2nd chance, third act, or a side hustle – the retail workforce represents the American workforce.
Ensuring a safe, sustainable future. RILA is working with lawmakers to help shape policies that protect our customers and meet expectations regarding environmental concerns.
Leading in the community. Retail is more than a store; we are an integral part of the fabric of our communities.
“As Congress and the Trump administration move forward to adopt policies that reduce regulatory burdens, create economic growth, and bring value to American families, understanding how such policies will impact retailers and the communities we serve is imperative,” Dodge said. “RILA and its member companies look forward to collaborating with policymakers to provide industry-specific insights and data to help shape any policies under consideration.”