Submitted by Group 3 Advait BhobeChandrashekhar JindalKanumuri Rajashekhar Raunak Vasandani Sangram Korekar Giffin George Sundeep K Rahul Kumar
FedEx History1.FedEx was founded at Little Rock, Arkansas (1971) as Federal Express Corporation and its was Founded by Frederick W. Smith.2.FedEx Corporation is a Delaware corporation, incorporated October 2, 1997. FDX Corporation was founded in January 1998 with the acquisition of Caliber System Inc. by Federal Express.3. In February 2000, FedEx acquired Tower Group International, an international logistics company.4.FedEx Corp. acquired privately held Kinkos Inc. in February 2004 and rebranded it FedEx Kinkos.5.Revenue for 2011 was US$39.3bn and net income was US$1.42bn.
Key elements which made FedEx successful globally Highly controlled distribution system with constant information about the status of the shipment. FedEx has its own air service in and out of china. Uses HUB and SPOKES system- The hub-and-spoke distribution network is a system of connections arranged like a chariot wheel, in which all traffic moves along spokes connected to the hub at the center. FedEx is made up of more than 300,000 team members from various walks of life and different cultures FedEx has a very good repo with US Govt. which has achieved it many contracts which makes them best in US where it has major revenues coming from.
Cont… Very aggressive competitor. First company gave the money back offer if not delivered on time. Online tracking system. Quick customs clearance and pick-up and delivery services. Concept of time-criticality & expedited delivery. Online package tracking. Extended service hours. FedEx uses PSP philosophy- PEOPLE : Customer comes first. SERVICE : Meeting and exceeding customer expectations. PROFIT : People’s commitment and empowerment.
Factors that made FedEx one of the best companies to work in :- Nice people ,nice management and upward mobility. Excellent work is recognized both financially and via promotions. Great company that focuses on clients and employees, transparent culture. FedEx uses 3step innovation system- Step 1: Employees freely generate and express ideas Step 2: Acceptance and Collaboration to develop raw idea into sound business plans. Step 3: Adoption, Execution and Implementation of plan.