Authors: Hokey Min
Addresses: Department of Management, College of Business Administration, Bowling Green State University, Bowling Green, Ohio 43403, USA
Abstract: Today|s business environments are fraught with unforeseen risks that seem to evolve as quickly as business processes they disrupt. One of those insidious risks that were often overlooked in the past, but received more attention lately is maritime piracy. To increase the awareness and preparedness for maritime piracy, this paper uncovers the major sources of maritime piracy, assesses its impact on global supply chain operations, and then proposes potential remedies that can mitigate supply chain risks associated with maritime piracy. In so doing, this paper chronicles the past incidents and then maps out the affected areas while developing practical guidelines that can make the multinational firm|s global supply chain more resilient in the presence of maritime piracy risks.
Keywords: maritime piracy; global supply chains; supply chain management; SCM; pirates; shipping lanes; risk management; unforeseen risks; multinational corporations; MNCs; ports; archipelagos; corruption; countermeasures; safety; hijackings; anarchy; instability; crime; criminals; black markets; ships; international trade; ocean-going vessels; cargo; cargoes; Gulf of Aden; Somalia; Indian Ocean; Malacca Strait; Singapore Strait; Anambas Islands; Natuna Islands; Belawan; South China Sea; Indonesia; Sumatra; Red Sea; Dar es Salaam; Tanzania; West Africa; Lagos; Bonny River; Nigeria; Monrovia; Liberia; Freetown; Sierra Leone; Philippines; South America; Santos; Brazil; Callao; Peru; Pacific Ocean; Arabian Peninsula; Horn of Africa; Southeast Asia; Abidjan; Ivory Coast; Conakry; Guinea; Venezuela; Macapa; Suez Canal; Panama Canal; Germany; Greece; United Kingdom; UK; Japan; United Arab Emirates; UAE; Taiwan; Malaysia; South Korea; Hong Kong; logistics systems; logistics management.
International Journal of Logistics Systems and Management, 2011 Vol.10 No.1, pp.122 - 138
Published online: 23 Aug 2011 *Full-text access for editors Access for subscribers Purchase this article Comment on this article