Once you have set up a hierarchy using the Select and Link command or a system such as Bones, you can manage it using the Hierarchy panel.
The Hierarchy panel has three tabs: Pivot, IK, and Link. You use the Pivot tab to adjust the pivot points of objects in the hierarchy. You use the IK tab to manage the behavior of inverse kinematics (IK). You use the Link Info tab to apply locks or inheritance to movement within the hierarchy.