IIT Madras gets USD 5 Million to pioneer sustainable logistics

IIT Madras is collaborating with FedEx Express to establish the ‘FedEx Centre of Excellence (CoE) for Smart and Sustainable Supply Chains.’

FedEx Express (FedEx) is a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies.

This initiative is supported by a five-year grant from FedEx, aims to drive sustainability through digital intelligence, technological advancements, talent, and collaboration, say sources from IIT Madras.

Significance

Mr. Raj Subramaniam, President and CEO of FedEx Corporation, underscored the significance of this initiative, stating, “At FedEx, we aspire to make supply chains smarter for everyone.

‘Beyond reshaping the logistics landscape, we are also committed to making a meaningful contribution in our communities. We know our collaboration with these esteemed institutions will be important in achieving those goals.’

CoE and inauguration

The CoE will be an industry-academia bridge, in the logistics sector with a focus on environmental and social sustainability via research and development in digital transformation.

The CoE will actively seek Grand Challenges and research-driven projects, encouraging innovative ideas from the ecosystem outside IIT Madras.

In addition to funding these initiatives, it will also foster start-ups in the logistics sector. Furthermore, the CoE aims to forge robust collaborations between industry and academia, solidifying its role as a catalyst for impactful advancements in the logistics domain.

The inauguration of the CoE at IIT Madras was done by Mr. Raj Subramaniam, Chief Executive Officer and President, FedEx Corporation, in the presence of Ms. Kami Viswanathan, President – Middle East, Indian subcontinent and Africa, FedEx Express.

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Prof. V. Kamakoti, Director, IIT Madras, Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, Prof. NS Narayanaswamy and Prof Arshinder Kaur, faculty leads for this Centre, and other dignitaries were also present.

This CoE will work towards delivering models, tools, and frameworks addressing environment sustainability aligned with UN SDG Goal #13 (Climate action) and conducting capacity development programs with specific training modules for shippers, carriers, 3PLs, and MSMEs in logistics.

Director of IIT Madras

Welcoming the collaboration, Prof. V. Kamakoti, Director, IIT Madras, said, “In collaboration with FedEx, we are committed to establishing a hub where technology and talent converge to drive sustainable logistics.

With a specialized focus on operations research and network planning, we aim to spearhead developments that optimize efficiency, enhance strategic planning, and contribute to the broader landscape of sustainable logistics advancements, said director of IIT Madras.

Collaboration

Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said, through this Centre and the collaboration with multiple stakeholders, including FedEx, we aim to bring digital intelligence that will create more sustainable supply chains, benefitting the country.

Major Corporations

At present, the logistics ecosystem involves multiple stakeholders including major corporations, service providers, policymakers, and academia.

The FedEx CoE at IIT Madras, aims to revolutionize the global logistics and supply chain landscape.

This initiative is set to bring substantial benefits, not only for consumers but also for the betterment of communities at large.