JB Hunt Transport Services Inc (NASDAQ:JBHT) has invested $2,75 million in the University of Arkansas to develop the J.B Hunt Innovation Center of Excellence.
The alliance team and goals
The center will be as a result of an alliance between J.B, Sam M. Walton College of Business and the College of Engineering. The consortium is seeking to improve on the efficiency of the supply chain management by use of technology.
Provost Jim Coleman stated that the grant is expected to create an incredible impact on the university and proceed to solidify their stature as an innovative giant in the supply chain management. The company major focus lies in the interdisciplinary research projects. This particular alliance between the faculty, student and the industry is an excellent example of the kind of research studies they continue to pursue.
The centers activities will be coordinated by an Innovation Center Steering Committee which will be comprised of around 14 members from J.B. Hunt, College of Engineering and Walton College leadership teams.
Benefits accrued to the study
This industry alliance helps in developing the U of A’s culture of interdisciplinary studies by coming up with a center that will enable engineering, business, computer science researchers and even the students to work alongside J.B. Hunt staff in establishing solutions to real world issues by use of innovative designs and technology inspired supply chain solutions.
J.B. Hunt Innovation Center of Excellence will help the company in its pursuit of revolutionary goals in the supply chain technology which can result to a game changing outcome on the industry. The innovative ideas which will impact the industry in the future are with the students of today according to Stuart Scott who is the chief information officer at J.B. Hunt. He states further that the company is excited to be working with some of the brightest engineering, computer science and business students from the University of Arkansas.
J.B. Hunt is a NASDAQ stock – 100 company that is driven by provision of safe and reliable transport services to diverse customer groups. It trades on the NADAQ platform under the ticker code JBHT and is also a component of the Dow Jones Transportation Average.