Review of Article on In-Transit Cargo Security

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Review of Article on In-Transit Cargo Security

We recently reviewed an article by John Tabor on  Supply Chain Critical Components that was published in LPMinsider. It was an excellent article and in this review we’ll take a look at another article by Mr. Tabor that appeared in the same publication entitled “In-Transit Cargo Theft: Impacting the Retail Supply Chain.” This article takes a deeper dive look at one of those critical components of retail supply chain security, specifically in-transit cargo security for freight trucks.

Recommendations for enhanced in-transit cargo security

Here are some of the highlights and takeaways of the article:

  1. A survey of retail security directors shows that almost half have experienced supply chain disruptions due to cargo theft in the last year, a significant increase from 5 years ago
  2. While great effort is expended to protect merchandise in-store, usually the only efforts to deter cargo theft in-transit on trucks is a key to the tractor and a seal on the rear doors of the trailer
  3. A large amount of cargo theft is gang-related
  4. The average value of a stolen shipment in-transit is approximately $300K vs. other crimes with a higher risk/reward. For example, the average bank robbery nets $2000, yet the average prison sentence for a convicted bank robbery is significantly longer, incentivizing cargo theft on a relative crime basis
  5. Annual cargo theft loss is estimated in the billions of dollars
  6. Cargo theft is higher than average in states that have major port activity
  7. A “layered” approach to security measures for minimizing cargo theft is recommended
  8. Retailers who maintain their own truck fleets have an advantage because they can invest in security devices as well as greater control over in-transit security processes and procedures
  9. Recommends that even retailers contracting their shipments out to third party providers should contractually insist on a list of 15 different requirements. Two notables on that list are requiring GPS tracking technologies on both tractors and trailers as well as ensuring that loaded trailers are secured with a sufficient locking device at all times
  10. GPS tracking capability is the single greatest asset that exists in investigating and ultimately recovering stolen cargo
  11. There are eight different private-sector councils located throughout the U.S. in the fight against both cargo theft and supply-chain enterprise crime

What’s really interesting about this article is how the OpticalLock Smartlock fits so well with the tenor and direction of the advice on improving in-transit cargo security. The OpticalLock adds significant value to the “layered security” approach by adding GPS tracking, locking value of of a traditional padlock, real-time wireless alerts of any tampering attempts with the lock as well as an audit trail of rich positioning and alert data in our secure cloud-based software.

Again, this is a GREAT article, rich with information on preventing cargo theft loss. Read the full text of the original article by Mr. Tabor at:

http://losspreventionmedia.com/insider/supply-chain-security/in-transit-cargo-theft-impacting-the-retail-supply-chain/

Again, please contact OpticalLock using our contact form to discuss your cargo security needs!

 

By | 2016-10-25T20:19:36+00:00 February 4th, 2016|Locks, retail security, supply chain, transportation|0 Comments

About the Author:

Phil Morettini is an experienced technology executive and marketer with expertise in hardware, software and supply chain industries.

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