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The Arsenale was the largest medieval industrial enterprise, famous for its assembly line. Management faced extreme variations between peace-time and war-time demands. Satisfying these unpredictable and sudden demands for a large, complex product with a multiple years–long production cycle was challenging. The purpose of this study is to analyze the Arsenale’s operations and supply chain arrangements, and to identify and assess their management policies. We also track its development and investigate its influence on other countries.

The research methodology used is archival research with content analysis of text and graphic representations of production processes.

These reveal that Venice’s supply chain management evolved from simply exploiting woodlands as needs arose, to a managed forest with planned planting, cultivation and harvesting, ending with the active modification of growing trees so their natural growth was artificially shaped to satisfy production requirements. Instead of fabricating components in their factory, the Venetians formed them by shaping the trees while they were still growing. These arboriculture techniques then provided a planned and regular supply of high-quality components that purely natural processes provided only randomly.

There may be undiscovered archival documents despite the authors’ best efforts. The development of this historic supply chain reflects modern managerial concerns.

Modern restorations of historic ships and buildings use some of the fabrication methods identified, although the more intensive techniques would require higher volume production.

This reveals historical forestry practices emphasised long-term needs and sustainable use.

To the best of the authors’ knowledge, this is a unique long-term investigation of an integrated production system and considers its influence on Iberian, French, British and American forestry and ship building. The close integration of production requirements with forestry practices was a novel finding.

This case study was built from secondary data such as news articles and videos. Several drafts of the case study with teaching note were tested in classroom settings and shared at a case writing conference. The case was revised based on feedback from students and roundtable discussions from the conference.

“What’s next: Ever Given after the Suez Canal incident (Evergreen Marine Corporation in, 2022)” explores the situation of the firm Evergreen Marine Corporation, a world-leading cargo shipping company headquartered in Taiwan, and its efforts to deal with challenges stemming from a pandemic and the global supply chain transition. The case provides background on the latest changes in global business environments, the Suez Canal Incident stemming from the grounding of Ever Given and firm-specific information, which would help students to understand the context affecting Evergreen Marine Corporation’s (EMC) strategic decisions. The case enables students to evaluate EMC’s overall position and to analyze the actions that they can take to deal with these challenges in a dynamic global environment.

This case would be appropriate for a course in strategy or international business, especially with the topic of international supply chain management.

In the shipping industry, both sales and purchases of second-hand ships and freight transport services are prevalently tailormade and traded with intense bilateral negotiations. Price bargaining is the key step of this negotiation process and plays a crucial role in determining mutually agreed prices. Despite its cruciality and applicability, the price bargaining has yet received due conceptual and/or theoretical attention in the shipping literature. This paper attempts to conceptually examine the role of bargaining in shipping transaction prices and subsequently puts forward directions for future research. In doing so, the paper focuses on two types of transactions taking place in shipping markets: asset market trading of second-hand vessels and service market trading shipping freights.

The paper begins with a systematic literature review of price bargaining in the field of economics and management disciplines from a game-theoretic perspective. This approach does logically lead to the establishment of a conceptual framework for price bargaining in shipping sub-markets as a step toward having taken into consideration a variety of heterogeneities commonly present in trading activities and market dynamics.

A set of research areas has been consequently identified where price bargaining and mechanisms for the shipping freight and asset markets could be further explored and analyzed in a way to make better pricing decisions under a more tangible framework.

One of the critical challenges when using bargaining mechanisms to make a decision on pricing shipping services and assets is how to operationalize the study for empirical investigation as some of the factors are internal information of the players and are not adequately revealed to externals: that is, an imperfect information sharing case. The current study aims, however, not to conduct an empirical analysis but to initiate a conversation among maritime economists by bringing their attention to this not-yet fully explored and potentially impactful field of research and by asking them to treat bargaining from a perspective for pricing shipping assets and services. It is claimed that, by doing so, one could better understand price differences between individual contracts.

This study would be considered the first of its kind to provide a detailed survey of the bargaining theory and models from a game theoretical perspective as a theoretical lens to understand its importance and relevance in pricing shipping assets and services. It also provides a simplified operational case on utilizing bargaining in practically pricing freight services.

While previous studies focused mainly on East Asia to Europe or United States trade routes, in recent years, trade among South-East Asian countries has increased notably. The price of transporting a container is not fixed and can fluctuate heavily over the course of a week. Besides, extant literature only identified seasonality patterns in the container freight market, but did not explore route-varying seasonality patterns. Hence, this study analyses container freight seasonality patterns of the six South-East Asian routes of the South-East Asian Freight Index (SEAFI) and the index itself and forecasts them.

Data of the composite SEAFI and six routes are collected from the Shanghai Shipping Exchange (SSE) including 167 weekly observations from 2016 to 2019. The SEAFI and individual route data reflect spot rates from the Shanghai Port to South-East Asia base ports. The authors analyse seasonality patterns using polar plots. For forecasting, the study utilize two univariate models, autoregressive integrated moving average (ARIMA) and seasonal autoregressive neural network (SNNAR). For both models, the authors compare forecasting results of original level and log-transformed data.

This study finds that the seasonality patterns of the six South-East Asian container trade routes are identical in an overall but exhibits unique characteristics. ARIMA models perform better than SNNAR models for one-week ahead test-sample forecasting. The SNNAR models offer better performance for 4-week ahead forecasting for two selected routes only.

Major industry players such as shipping lines, shippers, ship-owners and others should take into account the route-level seasonality patterns in their decision-making. Forecast analysts can consider using the original level data without log transformation in their analysis. The authors suggest using ARIMA models in one-step and four-step ahead forecasting for majority of the routes. The SNNAR models are recommended for multi-step forecasting for Shanghai to Vietnam and Shanghai to Thailand routes only.

This study analyses a new shipping index, that is, the SEAFI and its underlying six routes. The authors analyze the seasonality pattern of container freight rate data using polar plot and perform forecasting using ARIMA and SNNAR models. Moreover, the authors experiment forecasting performance of log-transformed and non-transformed series.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

It has been argued that a mono product economy experiences epileptic growth because it is prone to global dynamics such as epidemic. Therefore, the need to diversify investments cannot be over-emphasized. Hence, the study examined port operation's efficiency and revenue generation in global maritime trade: implications for national growth and development in Nigeria. The objectives of the study are to identify the factors that improve efficiency in port operations, and to ascertain how efficiency of operations will affect revenue generation and national growth.

The study employed correlation and multiple regressions analyses to test the hypothesis which states that port operation's efficiency does not have positive and significant effect on revenue generation in Nigeria. A cross sectional research design and structured questionnaires were deployed in the study and simple random sampling technique was used to select the sample size of 200 respondents.

Results revealed that efficient port operations affect revenue generation and national development.

Port operations in Nigeria are bedeviled with daunting challenges that hamper smooth and efficient working port's system.

The study suggested that modern port's technologies (ICTs) be deployed to enhance operations in the ports and manpower should be trained on regular intervals to understand modern logistics management techniques in the ports. Third, government should provide port infrastructures being the backbone of efficient port system. Lastly, the private sector should be partnered with in several areas including port's concession to facilitate effective and efficient service delivery in the Nigerian ports.

This chapter introduces Marx's theory of the determination of profit rates. It contrasts this theory with what happened in the late nineteenth century to British profit rates with a detailed statistical account. It identifies missing features in the standard presentation and contrasts these with the overaccumulation hypothesis that he presents elsewhere. A formal mathematical model using the overaccumulation hypothesis is then given and tested against modern empirical data.

This paper aims to identify modern construction techniques for affordable housing, such as prefabrication and interlocking systems, that can save time and cost while also providing long-term sustainable benefits that are desperately needed in today's construction industry.

The need for housing is growing worldwide, but traditional construction cannot cater to the demand due to insufficient time. There should be some paradigm shift in the construction industry to supply housing to society. This paper presented a state-of-the-art review of modern construction techniques practiced worldwide and their advantages in affordable housing construction by conducting a systematic literature review and applying the backward snowball technique. The paper reviews modern prefabrication techniques and interlocking systems such as modular construction, formwork systems, light gauge steel/cold form steel construction and sandwich panel construction, which have been globally well practiced. It was understood from the overview that modular construction, including modular steel construction and precast concrete construction, could reduce time and costs efficiently. Further enhancement in the quality was also noticed. Besides, it was observed that light gauge steel construction is a modern phase of steel that eases construction execution efficiently. Modern formwork systems such as Mivan (Aluminium Formwork) have been reported for their minimum construction time, which leads to faster construction than traditional formwork. However, the cost is subjected to the repetitions of the formwork. An interlocking system is an innovative approach to construction that uses bricks made of sustainable materials such as earth that conserve time and cost.

The study finds that the prefabrication techniques and interlocking system have a lot of unique attributes that can enable the modern construction sector to flourish. The study summarizes modern construction techniques that can save time and cost, enhancing the sustainability of construction practices, which is the need of the Indian construction industry in particular.

This study is limited to identifying specific modern construction techniques for time and cost savings, lean concepts and sustainability which are being practiced worldwide.

Modern formwork systems such as Mivan (Aluminium Formwork) have been reported for their minimum construction time which leads to faster construction than traditional formwork.

The need for housing is growing rapidly all over the world, but traditional construction cannot cater to the need due to insufficient time. There should be some paradigm shift in the construction industry to supply housing to society.

This study is unique in identifying specific modern construction techniques for time and cost savings, lean concepts and sustainability which are being practiced worldwide.

The purpose of this paper is to investigate the impact of ultrasonic vibration (UV) and tool pin profile on mechanical properties and microstructural behaviour of AA7075-T651 and AA6061-T6 joints was analysed.

The joints were fabricated using three different tool pin profiles such as cylindrical, square and triangle. For each tool pin profile, two different UV powers of 1.5 kW and 2 kW were used.

On both the advancing and retreating sides of the weld, the thermo-mechanically affected zone has the lowest microhardness. In all joints, the tensile fracture locations match to the minimum hardness values. Field emission scanning electron microscope fractography of tensile tested specimens reveals heterogeneous modes of brittle, shear and ductile fracture. Three-point bending analysis was performed to determine the ductility and soundness of the weld joint. The acoustic softening effect of UV, as well as the static and dynamic ratio of tool pin profile, plays an important role in determining the material flow and mechanical behaviour of the joint.

Dissimilar aluminium joining fascinates many applications like aircraft, aerospace, automobiles, ship building and electronics, where fusion welding is a very intricate process because of the deviation in its physical and chemical properties.

From this study investigation, it is found that the square pin profiled tool with 2 kW UV power produces metallurgical defect-free and mechanically sound weld with maximum tensile strength, hardness and bending load of 297 MPa, 151HV and 3.82 kN, respectively.