FedEx: Revolutionising Global Express Delivery
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Code : COM0046
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Region : US
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Introduction:Federal Express Corp. (FedEx) was founded by Frederick W. Smith (Smith) in 1971. With the inception of FedEx, Smith virtually invented the express delivery industry to provide overnight-delivery services to the customers. By 2004, FedEx became a $27 billion company that "provides strategic direction and consolidated financial reporting for six independent operating companies that compete collectively under the FedEx name world wide: FedEx Express, FedEx Ground, FedEx Freight, FedEx CustomCritical, FedEx Trade Networks and FedEx Services". In the last decades of the 20th century, FedEx transformed the transportation industry, both customer and business transportation, through its speed, reliability, integration of information technology, superior handling of goods and its unique hub-and-spoke system. With the help of its innovative techniques in handling and delivering goods, FedEx not only reduced the logistics costs, but also revolutionised concepts like 'just-in-time' and 'build-to-order', which improved the productivity of FedEx customers by substantially reducing the lead-times. "Without a question, FedEx Corp. has been one of the great entrepreneurial success stories of the past quarter-century". |
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