LOWELL, Ark. & FAYETTEVILLE, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) is making a $2.75 million investment in the University of Arkansas to create the J.B. Hunt Innovation Center of Excellence. The center will be a collaborative effort between the company, the College of Engineering and the Sam M. Walton College of Business to advance supply chain management efficiency through technology.
“This grant will have an incredible impact on the university and further solidify our stature as an innovative leader in supply chain management,” Provost Jim Coleman said. “Interdisciplinary research projects are a major focus of ours, and this particular collaboration between industry, faculty and students is a great example of the type of research we continue to pursue.”
This industry collaboration advances the U of A’s culture of interdisciplinary research through the creation of a center that allows engineering, computer science and business researchers and students to work with J.B. Hunt employees in finding solutions to real-world problems through innovative design and technology-driven supply chain solutions.
“The J.B. Hunt Innovation Center of Excellence will allow us to pursue revolutionary ideas in supply chain technology that can have a game-changing impact on the industry,” Stuart Scott, chief information officer at J.B. Hunt, said. “The innovative ideas that will shape our industry’s future are with the students of today, and we’re proud to be working with some of the best and brightest business, engineering and computer science students at the University of Arkansas.”
The center’s activities will be led by an Innovation Center Steering Committee, which will consist of approximately 14 members from J.B. Hunt, Walton College and College of Engineering leadership teams.
Shelley Simpson, chief marketing officer and president of integrated capacity solutions and truckload at J.B. Hunt, is a graduate of the Walton College and remains involved through the Walton College Dean’s Executive Advisory Board. Over the years, she has seen firsthand how the university’s programs and research have been beneficial to the company.
“As our industry evolves, customers need more intelligent supply chain solutions to meet market demand,” said Simpson. “This collaboration is an investment in the future of J.B. Hunt and our ability to deliver customer value.”
The U of A is a leader in innovation in supply chain management, with the Walton College supply chain management program ranking 14th in the nation in 2016 by U.S. News & World Report. The SCM Journal List™ ranks the supply chain department as 5th globally in empirical supply chain management research.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., a Fortune 500, S&P 500, and NASDAQ-100 company, focuses on providing safe and reliable transportation services to a diverse group of customers throughout the contiguous United States, Canada, and Mexico. Utilizing an integrated, multimodal approach, the company provides capacity-oriented solutions centered on delivering customer value and industry-leading service. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.
About the University of Arkansas
The University of Arkansas provides an internationally competitive education for undergraduate and graduate students in more than 200 academic programs. The university contributes new knowledge, economic development, basic and applied research, and creative activity while also providing service to academic and professional disciplines. The Carnegie Foundation classifies the University of Arkansas among only 2 percent of universities in America that have the highest level of research activity. U.S. News & World Report ranks the University of Arkansas among its top American public research universities. Founded in 1871, the University of Arkansas comprises 10 colleges and schools and maintains a low student-to-faculty ratio that promotes personal attention and close mentoring.