Supply chain & logistics innovation among private banking industry companies has dropped off in the last year
Analysis of patent filings shows a shrinking level of supply chain and logistics related applications in the industry over the past year
Research and innovation in supply chain & logistics in the private banking sector has declined in the last year.
The most recent figures show that the number of supply chain and logistics related patent applications in the industry stood at 10 in the three months ending May – down from 14 over the same period in 2021.
Figures for patent grants related to supply chain and logistics followed a similar pattern to filings – shrinking from 11 in the three months ending May 2021 to 8 in the same period in 2022.
The figures are compiled by GlobalData, who track patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.
Supply chain and logistics is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.
The figures also provide an insight into the largest innovators in the sector.
Bank of America Corp was the top supply chain and logistics innovator in the private banking sector in the latest quarter, but by no great means. The company, which has its headquarters in the United States, filed 2 supply chain and logistics related patents in the three months ending May. That was up from an absolute 0 over the same period in 2021.
It was followed by the China based Ping An Insurance (Group) Company of China Ltd with 2 supply chain and logistics patent applications, the United States based The Hartford Financial Services Group Inc (2 applications), and Taiwan based CTBC Financial Holding Co Ltd (1 applications).