Surge in Cargo Crime with no sign of relief
Cargo theft is a serious problem in the logistics industry, with an estimated $30 billion worth of cargo stolen every year in the United States alone. Cargo theft can occur at any point in the supply chain, from the manufacturer to the final delivery destination. It is a major concern for shippers, carriers, and insurance companies alike, as it not only causes financial losses but also affects the customer experience. In this article, we will explore the issue of cargo theft and how leveraging Ventra video telematics can help enhance visibility, security, thwart crime, and improve customer experience.
The problem of cargo theft
Cargo theft is a growing problem that affects businesses of all sizes. According to the National Cargo Theft Task Force, the most commonly stolen items include electronics, pharmaceuticals, clothing, and food and beverages. Cargo theft can occur at any point in the supply chain, including when the cargo is en route, especially while the truck is parked. Cargo at rest is cargo at risk.
There are several ways in which cargo theft can occur. One common method is through fictitious pickups, where criminals pose as legitimate carriers to pick up the cargo. Another method is through the theft of entire trailers or containers, which can be sold on the black market. Additionally, cargo theft can occur through theft of the cargo from a parked vehicle, hijacking of a moving vehicle, and theft by employees or insiders.
The impact of cargo theft
Cargo theft has a significant impact on businesses, particularly in terms of financial losses. According to CargoNet, a national cargo theft prevention and recovery network, the average value of stolen cargo in 2022 was $214,104 per incident. Additionally, the National Insurance Crime Bureau reports that cargo theft increases during the holiday season, with an estimated $14.2 million worth of cargo stolen in November and December of 2020. This amount is staggering and can have a significant impact on a business’s bottom line.
1. According to the American Trucking Associations (ATA), cargo theft costs the trucking industry an estimated $15 billion to $30 billion each year. (Source: ATA)
2. In 2022, CargoNet recorded a total of 1,778 cargo theft incidents in the United States, with an average value per incident of $214,104. (Source: CargoNet)
3. The top five states with the highest number of reported cargo theft incidents in 2022 were California, Texas, Georgia, Florida, and Illinois. (Source: CargoNet)
4. In the first quarter of 2021, CargoNet reported a 70% increase in cargo thefts compared to the same period in 2020. (Source: CargoNet)
5. The most commonly targeted types of cargo in 2022 were food and beverage, electronics, and household goods. (Source: CargoNet)
6. Cargo theft can occur at any point in the supply chain, but incidents are most common when cargo is in transit (72% of incidents in 2022). (Source: CargoNet)
7. The trucking industry is particularly vulnerable to cargo theft, with over 80% of reported incidents involving trucks. (Source: FreightWatch International)
8. Cargo theft is a global problem, with incidents reported in countries around the world. In 2020, the top five countries with the highest number of reported cargo theft incidents were the United States, Brazil, Mexico, South Africa, and the United Kingdom. (Source: TAPA EMEA)
These statistics highlight the extent and impact of cargo theft in the logistics industry. Cargo theft also has an impact on the customer experience. When cargo is stolen, it can delay shipments and cause disruptions in the supply chain, which can affect customer satisfaction. Additionally, when cargo is stolen, businesses may be hesitant to ship valuable or high-risk items, which can limit their ability to serve their customers.
How Ventra video telematics can help
Ventra video telematics is a solution that can help enhance visibility, security, and improve the customer experience. Ventra provides real-time video monitoring of cargo and vehicles, which can help detect and prevent theft. Additionally, Ventra’s video telematics solution can be used to identify and address operational inefficiencies, such as delays or unnecessary stops, which can improve the customer experience.
Ventra system includes a variety of features that can help prevent cargo theft, including live video monitoring, real-time alerts, and GPS tracking. The live video monitoring allows businesses to monitor their cargo in real-time, which can help detect any suspicious activity. Real-time alerts can be sent to businesses or law enforcement if any unusual activity is detected. GPS tracking allows businesses to track the location of their vehicles and cargo, which can help prevent theft and recover stolen items.
Implementing Ventra video telematics can also help businesses improve their operational efficiency, which can have a positive impact on the customer experience. Ventra’s video telematics solution can be used to identify areas of the supply chain that are causing delays or inefficiencies. By addressing these issues, businesses can improve their delivery times, which can improve customer satisfaction.
In summary, cargo theft is a growing problem that can have a significant impact on businesses and the customer experience. Leveraging Ventra video telematics can help enhance visibility, security, and improve the customer experience by preventing cargo theft, identifying operational inefficiencies, and improving delivery times. With cargo theft on the rise, businesses need to take proactive steps to protect their cargo and their customers.