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This paper discusses risk management approaches in the air cargo industry. It gives a concise overview of developments, business practices and complexities of the air cargo industry and draws cross-references to comparable industries. It introduces supply contracts for capacity and the inherent risks in the shipping process. Based on that, approaches to mitigate risk are studied. The work elaborates on the historically grown research field of revenue management and puts emphasis on the discipline of overbooking in the air cargo sector. Capacity options and financial intermediation are presented as more innovative approaches for capacity risk management. The application of these various risk management methods is evaluated in an expert study among air cargo industry professionals from different market perspectives. With that, obstacles to the successful implementation are identified and potential solutions are named.
Every day in the United States, over two million men, women, and children step onto an aircraft and place their lives in the hands of strangers. As anyone who has ever flown knows, modern flight offers unparalleled advantages in travel and freedom, but it also comes with grave responsibility and risk. For the first time in its history, the Federal Aviation Administration has put together a set of easy-to-understand guidelines and principles that will help pilots of any skill level minimize risk and maximize safety while in the air. The Risk Management Handbook offers full-color diagrams and illustrations to help students and pilots visualize the science of flight, while providing straightforward information on decision-making and the risk-management process.
Logistics and supply chain management is facing disruptive economic, technological and climate change developments that require new strategies. New technologies such as the Internet-of-Things, digital manufacturing or blockchain are emerging quickly and could provide competitive advantage to those companies that leverage the technologies smartly while managers that do not adopt and embrace change could be left behind. Last but perhaps most important for mankind, sustainability aspects such as low-carbon transportation, closed loop supply chains or socially-responsible supply chain setups will become essential to operate successfully in the future. All these aspects will affect logistics and supply chains as a whole as well as different functional areas such as air cargo, maritime logistics or sourcing/procurement. This book aims to dive into several of these functional topics to highlight the key developments in the next decade predicted by leading global experts in the field. It features contributions and key insights of globally leading scholars and senior industry experts. Their forward-looking perspectives on the anticipated trends are aimed at informing the reader about how logistics and supply chain management will evolve in the next decade and which academic qualities and skills will be required to succeed in the "new normal" environment that will be characterized by volatile and increasingly disrupted business eco-systems. Future scenarios are envisaged to provide both practitioners and students with insights that will help them to adapt and succeed in a fast changing world.
From political uncertainty to trade disrupts and cyber threats, the risk environment is continuously evolving, and new challenges frequently arise demanding immediate attention to avoid disruption to supply chains. Supply Chain Risk Management is the guide to recognizing, reviewing and reacting to these risks to ensure continued operations and optimal service. This book is a practical learning tool which offers a comprehensive framework to understanding risk and how to engineer resilience into the supply chain. The third edition of Supply Chain Risk Management details how to approach various threats, including black swan events, natural disasters, climate change, cargo crime and piracy, and terrorism and security. Using case studies and recent, topical examples, this book demonstrates how to successfully manage these risks and apply learnings in practice. Objectives, summaries and key point checklists in each chapter also help the reader grasp these key concepts and understand how to keep supply chains resilient. Online resources include lecture slides and example test questions.
The air transport industry is highly vulnerable to environmental changes as was seen when the recent COVID-19 pandemic caused most airline operations to cease. However, for decades airlines have been collapsing around the globe as the business of managing airline operations has become stressed due to price competition. This is detrimental to air carriers since air transport products and services are the same. Moreover, it impacts other industries such as tourism, hotels, and restaurants, which contribute to the derailment of economic and social activities. Thus, it is essential to determine new practices and strategies that can allow air transport management to be enriched and to flourish. Global Air Transport Management and Reshaping Business Models for the New Era provides a comprehensive collection of knowledge on the new era of business management on air transport. It provides strategies, technologies, and tools used in the reshaping of the air transport business model. Covering topics such as customer experience, robotic process automation, and airline alliances, this major reference work is an essential resource for airline managers, supply chain specialists, air transport managers, students and faculty of higher education, libraries, researchers, economists, government officials, and academicians.
In 2004, an estimated 23 billion pounds of air cargo (AC) was transported within the U.S., about a quarter of which was transported on passenger aircraft. Within the Dept. of Homeland Security, the Transportation Security Admin. (TSA) is responsible for ensuring the security of commercial aviation, incl. AC. To evaluate the status of TSA's efforts to secure domestic AC, this report examined: (1) the extent to which TSA used a risk management approach to guide decisions on securing AC; (2) the actions TSA has taken to ensure the security of AC & the factors that may limit their effectiveness; & (3) TSA's plans for enhancing AC security & the challenges that TSA & industry stakeholders face in implementing these plans. Illustrations.
In global commerce, amidst the testament to human innovation and interconnectedness lies disruptions, challenges, and uncertainties that threaten the seamless flow of goods across the world. The global cargo industry, with its complexities, has become a place where the resilience of Asia-Pacific shipping industries emerges as a beacon of adaptability and fortitude. As disruptions become the new norm, the challenges faced by these industries intensify. It is against this dynamic backdrop that Global Cargo Industry: Resilience of Asia-Pacific Shipping Industries takes center stage, delving into the heart of this paradox to uncover the strategies, innovations, and policies that have not only allowed the industry to weather storms but also enabled it to thrive. The primary objective of Global Cargo Industry: Resilience of Asia-Pacific Shipping Industries is to provide an in-depth analysis of the strategies, policies, and innovations that have empowered Asia-Pacific shipping industries to thrive. Serving as a bridge between theoretical insights and practical applications, the book offers a comprehensive view of the challenges and opportunities that have shaped the resilience of the region's shipping sector. Through a collection of insightful chapters, readers gain an understanding of the nature of the global cargo industry and the strategies that have contributed to the industry's adaptability.