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J. B. Hunt & Value Chain Management

A company's value chain is comprised of all of the components--product, information and processes that move materials from raw material to end customers. Value chain management can optimize the profitability and productivity of the entire value chain, from the supplier's supplier to the customer's customer, and of the individual business constituents that make up the chain. Value-chain management can help a company ensure that each of the components is as strong as possible, which will help the company achieve its long-term goals.

At J. B. Hunt, there are no raw materials to be turned into finished goods since the company is essentially in the service business. However, the company does rely on suppliers and its drivers in order to provide that service. This means that J. B. Hunt must manage its value chain in the sense that it manages its fleet of trucks, ensuring that the right vehicles are in the right place at the right time, and manage its drivers so that it has appropriately trained personnel who can meet its needs.

Additionally, since the company offers logistical services and contract services, the company must manage training in these areas as well to ensure that its employees are able to meet the needs in these areas. Logistical services in particular require that J. B. Hunt work closely with customers and their customers and suppliers in order to serve as the logistics "department" for entire companies. Here, J. B. Hunt moves out of being just a "trucking" company, and into management consulting (Annual Report, 2000, p. 5).

At the highest levels, J. B. Hunt is organized along traditional lines with the President and CEO reporting to the chairman of the board and a vice-chairman. Executive vice-presidents of marketing, operations, equipment and properties, and finance round out the senior executive level (execs).

Each of the company's divisions (van, logistics services and dedicat

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J. B. Hunt & Value Chain Management. (1969, December 31). In LotsofEssays.com. Retrieved 11:37, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1695904.html