Generative Artificial Intelligence (AI) is transforming supply chain management by introducing advanced capabilities that enhance efficiency, agility, and resilience. This review explores the pivotal role of Generative AI in developing innovative supply chain strategies and highlights future trends and innovations. Generative AI leverages advanced machine learning models, such as deep neural networks and natural language processing, to provide accurate demand forecasting, optimize inventory management, and support scenario simulations for risk assessment. By analyzing historical data, market trends, and external factors, Generative AI offers predictive insights that enable proactive decision-making and resource allocation. Current supply chains face challenges such as inefficiencies, demand volatility, and disruptions caused by geopolitical events and global crises. Generative AI addresses these issues by creating dynamic, data-driven strategies that adapt to changing conditions. For example, AI-powered predictive models ensure just-in-time inventory management and real-time demand forecasting, reducing waste and improving responsiveness. Additionally, the integration of Generative AI with technologies such as blockchain and IoT creates opportunities for end-to-end supply chain visibility, secure data sharing, and process automation. Future trends in Generative AI include the development of autonomous supply chain ecosystems, enhanced collaboration through AI-driven platforms, and the use of synthetic data to simulate complex scenarios for contingency planning. As supply chains become more interconnected, Generative AI will play a critical role in optimizing operations, mitigating risks, and fostering sustainability. This review aims to provide a comprehensive overview of how Generative AI contributes to innovative supply chain strategies and outlines the transformative potential of this technology in shaping the future of global supply chains. By embracing these advancements, businesses can achieve a competitive edge in an increasingly dynamic and complex marketplace.