World Class Supply Chain 2024: Thriving in Volatile Times

Abstract

The Eighth Annual World Class Supply Chain Summit was convened on May 1st, 2024 under the theme of Thriving in volatile times. The theme, which embodies the expressed interests of attendees in last year’s post-summit survey, underscored the supply chain community’s focus on how to succeed in a supply chain world that is volatile, uncertain, complex, and ambiguous (VUCA). The summit’s deliberations on the theme featured two keynote addresses (one each by an industry executive and a research scholar), an industry panel, a student panel, and an intergenerational fireside chat by a panel comprising individuals with experiences ranging from a few months of internships through to several decades in the supply chain field. In these deliberations, a pervasive message was that supply chain professionals must accept that VUCA is a more likely future reality than the normalcy that might have existed in the past. Therefore, VUCA must be embraced as an opportunity for success instead of a reason for despair. In addition to this central message, attendees reported gaining valuable insights on: (i) Sustainability (ii) Operational agility (iii) Equity, diversity, inclusivity (EDI) (iv) Ongoing professional development (v) Best practices from various industries (vi) Youth engagement, talent acquisition, and retention (vii) The role of clean energy in SCM and logistics management The audience’s diversity fueled rich and multifaceted dialogue with the speakers to probe the insights listed above. Figure 1 below portrays the diversity: attendees represented organizations that make, sell, and move the supply chain’s products (manufacturers, retailers, transportation companies, warehouses, etc.) and organizations that support supply chains with services such as education and consulting