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:
- 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
- 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
- A large amount of cargo theft is gang-related
- 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
- Annual cargo theft loss is estimated in the billions of dollars
- Cargo theft is higher than average in states that have major port activity
- A “layered” approach to security measures for minimizing cargo theft is recommended
- 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
- 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
- GPS tracking capability is the single greatest asset that exists in investigating and ultimately recovering stolen cargo
- 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:
Again, please contact OpticalLock using our contact form to discuss your cargo security needs!