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."
We may be living in a world full of technology, but strategy and focus remain the top priorities when it comes to managing a business and its supply chains. So says Roberto Isaias, executive vice president and chief supply chain officer for toy manufacturing and entertainment company Mattel.
Isaias emphasized the point during his keynote presentation on day two of EDGE 2024, a supply chain conference sponsored by the Council of Supply Chain Management Professionals (CSCMP), being held in Nashville this week. He described Mattel’s journey to transform its business and its supply chain amid surging demand for Barbie-branded items following the success of the Barbie movie last year.
Isaias discussed the transformation on two fronts: Commercially, through the revitalization of its brands that began years ago, and logistically, through a supply chain strategy focused on effectiveness and cost leadership.
Today, Mattel makes millions of toys and is steadily moving beyond the toy aisle with its franchise mindset, becoming a major entertainment company as well. Isaias told the audience Mattel currently has two films in production and 14 others in development, and its television studios business has 13 series’ in production with more than 35 in development.
And as for those supply chain gains? The company has saved millions, increased productivity, and improved profit margins—even amid cost increases and inflation. For the full story on Mattel’s transformation, see our feature story from this past summer.
And Isaias left the EDGE audience with five lessons he learned from his experience in leading change:
The business is our boss;
Don’t delegate complexity;
Take bad news well;
Be fair and take care of people;
Lead the execution.
CSCMP’s EDGE 2024 conference runs through Wednesday, October 2, at Nashville’s Gaylord Opryland Hotel & Convention Center.
Confronted with the closed ports, most companies can either route their imports to standard East Coast destinations and wait for the strike to clear, or else re-route those containers to West Coast sites, incurring a three week delay for extra sailing time plus another week required to truck those goods back east, Ron said in an interview at the Council of Supply Chain Management Professionals (CSCMP)’s EDGE Conference in Nashville.
However, Uber Freight says its latest platform updates offer a series of mitigation options, including alternative routings, pre-booked allocation and volume during peak season, and providing daily visibility reports on shipments impacted by routings via U.S. east and gulf coast ports. And Ron said the company can also leverage its pool of some 2.3 million truck drivers who have downloaded its smartphone app, targeting them with freight hauling opportunities in the affected regions by pricing those loads “appropriately” through its surge-pricing model.
“If this [strike] continues a month, we will see severe disruptions,” Ron said. “So we can offer them alternatives. We say, if one door is closed, we can open another door? But even with that, there are no magic solutions.”
Turning around a failing warehouse operation demands a similar methodology to how emergency room doctors triage troubled patients at the hospital, a speaker said today in a session at the Council of Supply Chain Management Professionals (CSCMP)’s EDGE Conference in Nashville.
There are many reasons that a warehouse might start to miss its targets, such as a sudden volume increase or a new IT system implementation gone wrong, said Adri McCaskill, general manager for iPlan’s Warehouse Management business unit. But whatever the cause, the basic rescue strategy is the same: “Just like medicine, you do triage,” she said. “The most life-threatening problem we try to solve first. And only then, once we’ve stopped the bleeding, we can move on.”
In McCaskill’s comparison, just as a doctor might have to break some ribs through energetic CPR to get a patient’s heart beating again, a failing warehouse might need to recover by “breaking some ribs” in a business sense, such as making management changes or stock write-downs.
Once the business has made some stopgap solutions to “stop the bleeding,” it can proceed to a disciplined recovery, she said. And to reach their final goal, managers can use the classic tools of people, process, and technology to improve what she called the three most important key performance indicators (KPIs): on time in full (OTIF), inventory accuracy, and staff turnover.
CSCMP EDGE attendees gathered Tuesday afternoon for an update and outlook on the truckload (TL) market, which is on the upswing following the longest down cycle in recorded history. Kevin Adamik of RXO (formerly Coyote Logistics), offered an overview of truckload market cycles, highlighting major trends from the recent freight recession and providing an update on where the TL cycle is now.
EDGE 2024, sponsored by the Council of Supply Chain Management Professionals (CSCMP), is taking place this week in Nashville.
Citing data from the Coyote Curve index (which measures year-over-year changes in spot market rates) and other sources, Adamik outlined the dynamics of the TL market. He explained that the last cycle—which lasted from about 2019 to 2024—was longer than the typical three to four-year market cycle, marked by volatile conditions spurred by the Covid-19 pandemic. That cycle is behind us now, he said, adding that the market has reached equilibrium and is headed toward an inflationary environment.
Adamik also told attendees that he expects the new TL cycle to be marked by far less volatility, with a return to more typical conditions. And he offered a slate of supply and demand trends to note as the industry moves into the new cycle.
Supply trends include:
Carrier operating authorities are declining;
Employment in the trucking industry is declining;
Private fleets have expanded, but the expansion has stopped;
Truckload orders are falling.
Demand trends include:
Consumer spending is stable, but is still more service-centric and less goods-intensive;
After a steep decline, imports are on the rise;
Freight volumes have been sluggish but are showing signs of life.
CSCMP EDGE runs through Wednesday, October 2, at Nashville’s Gaylord Opryland Hotel & Resort.
The relationship between shippers and third-party logistics services providers (3PLs) is at the core of successful supply chain management—so getting that relationship right is vital. A panel of industry experts from both sides of the aisle weighed in on what it takes to create strong 3PL/shipper partnerships on day two of the CSCMP EDGE conference, being held this week in Nashville.
Trust, empathy, and transparency ranked high on the list of key elements required for success in all aspects of the partnership, but there are some specifics for each step of the journey. The panel recommended a handful of actions that should take place early on, including:
Establish relationships.
For 3PLs, understand and get to the heart of the shipper’s data.
Also for 3PLs: Understand the shipper’s reason for outsourcing to a 3PL, along with the shipper’s ultimate goals.
Understand company cultures and be sure they align.
Nurture long-term relationships with good communication.
For shippers, be transparent so that the 3PL fully understands your business.
And there are also some “non-negotiables” when it comes to managing the relationship:
3PLs must demonstrate their commitment to engaging with the shipper’s personnel.
3PLs must also demonstrate their commitment to process discipline, continuous improvement, and innovation.
Shippers should ensure that they understand the 3PL’s demonstrated implementation capabilities—ask to visit established clients.
Trust—which takes longer to establish than both sides may expect.
EDGE 2024 is sponsored by the Council of Supply Chain Management Professionals (CSCMP) and runs through Wednesday, October 2, at the Gaylord Opryland Resort & Convention Center in Nashville.