IIT Bombay And IIT Madras Get $5 Mln Grant Each From FedEx

Indian Institute of Technology, Mumbai and Indian Institute of Technology, Madras, received a grant of almost $5 million each from FedEx Express (FedEx), a subsidiary of FedEx Corp.

This collaboration will be supported by a five-year grant from FedEx to establish the ‘FedEx Centre of Excellence (CoE) for Smart and Sustainable Supply Chains’, a press release by IIT Madras said.

With regard to supply chain network architecture and planning, this association will employ quantitative models and solution technologies to lower costs and improve operational efficiency. These efforts will be accelerated by the "Centre of Excellence" that will be established on the IIT Bombay campus as a crucial component of this initiative and the Industrial Engineering and Operations Research (IEOR) B.Tech programme which is scheduled to start at the start of the upcoming academic year, a released by IIT Bombay said.

Prof. Subhasis Chaudhuri, Director, IIT Bombay, said, “Our collaboration with FedEx is a significant step in supporting the development of advanced logistics. These efforts in addressing some of the most pressing challenges such as digital transformation of supply chains and the integration of digital twins, will go a long way and create a profound impact.”

Mr. Raj Subramaniam, President and CEO of FedEx Corporation, said, “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.”

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