The threat of supply chain theft looms large, with CargoNet predicting a continued surge into the holiday season. Seasoned cargo thieves are anticipated to capitalize on the abundance of unattended trucks and closed warehouses, creating a target-rich environment.
CargoNet, a Verisk business, conducted a thorough examination of theft data spanning a 10-day period from Dec. 23 to Jan. 2 over the past five years. Shockingly, during this analysis, 205 incidents were reported, with the average cargo theft valued at $121,473. The frequency of incidents has seen a consistent rise each year, marking a stark contrast to the 56 incidents reported in the previous holiday season.
The overall landscape of theft has experienced a significant upswing beyond the holiday period. CargoNet’s report revealed a staggering estimated value of $31 million in stolen shipments during the third quarter, underscoring the urgent need for heightened security measures and vigilance throughout the supply chain.
Useful Technologies for Theft Defense and Fleet Optimization
In the relentless battle against cargo theft, experts emphasize the importance of thorough vetting within the industry to avoid falling victim to fraudulent schemes and shipment diversions. While scrutinizing industry partners remains crucial, integrating technology can serve as a valuable ally in both monitoring cargo and facilitating potential recovery in case of theft.
Smart Surveillance Systems: Beyond Observation
Modern intelligent camera systems deployed in cargo areas not only keep a vigilant eye on the goods but also contribute to optimizing trailer utilization. According to insights from Spireon, these covertly installed devices offer added security with tamper alerts, making them challenging for thieves to disarm or remove.
Roni Taylor, Senior Vice President of Strategy and Business Development at Spireon, emphasizes the nearly foolproof nature of contemporary tracking devices and cameras. She highlights their covert installation, often underneath the trailer, ensuring discreet but effective monitoring.
Diversified Tracking Solutions
A range of tracking devices is available to cater to diverse fleet needs. One notable solution is the GPS tracking device, frequently installed under various trailer types, from flatbeds and vans to reefers. Taylor dismisses the notion that security technology is out of reach for smaller carriers, citing Solera’s battery-powered GPS tracker as an affordable and versatile option. With minimal maintenance requirements and a lifespan of four to five years, this device provides a cost-effective means for smaller carriers to address theft concerns.
Beyond Theft Prevention: Enhancing Visibility
While GPS tracking devices are often associated with thwarting theft, Taylor underscores their broader role in offering crucial visibility into trailer utilization. For many trucking companies, investing in trailer tracking is more about optimizing the fleet’s efficiency than solely preventing theft. Understanding the whereabouts of all trailers enables companies to maximize freight haulage, enhancing competitiveness against larger carriers.
Eyes Inside Trailers: Enhancing Load Accuracy
In addition to tracking, cameras strategically placed inside trailers serve a dual purpose. Spireon’s cargo sensors, powered by artificial intelligence since 2018, assess images to determine whether the trailer is loaded or empty. While contributing to theft prevention, these cameras primarily aid in verifying load accuracy. For instance, cameras facing forward calculate floor space and volume through AI, providing real-time insights into the trailer’s capacity. Such images can be seamlessly transmitted to the fleet through API integration.
Exploring the Tech Landscape
Beyond Spireon, other companies like Orbcomm, Phillips Connect, PowerFleet, and SkyBitz also offer freight-monitoring cameras, expanding the options available to fleet managers seeking comprehensive cargo security solutions.
As the threat landscape evolves, integrating advanced technology remains a proactive strategy for safeguarding valuable cargo and ensuring the efficient utilization of fleet assets.
Source: Spireon