The threat of cargo losses affects every industry, some are more at risk than others. As such, many shippers and suppliers want to know how to prevent theft and pilferage, and which is the best way to safeguard their cargo based on their industry. High value or low security will not be the only determining factors of pilferage and theft risk to cargo as organized crime networks and thieves will adjust and modify their efforts accordingly.
The most prevalent location for large-scale cargo thefts continue to be in Unsecured Parking, identified in (50%) of incidents in which a location type was declared. Thefts from Truck Stops/Fuel Stations recorded (27%) of the total while Secured Parking and Warehouse/DC logged (9%) each. Theft of Full Truckload (52%) was once again the most prevalent method of theft in Q3-2021, despite a 5% decrease versus Q2-2021. Pilferage experienced a similar decrease of 6%, accounting for 41% of total thefts.
Thankfully, there are multiple methods you can use to detect threats early, mitigate shipping risks and providing optimal in-transit security. Today our blog will guide you through the ins-and-outs of shipping your cargo safely and securely by highlighting five high-risk industries and how TydenBrooks protects them.
Food and Beverage
The food and beverage industry not only is one of the largest industries in the world; but it is also an industry that suffers more than others with regards to cargo attacks. Food and beverage products are more difficult to trace once stolen, due to the lack of serial numbers. Evidence of pilferage or theft is often hard to gather as these products usually get consumed or have no form of packaging. Supply and demand, as well as market price; are significant drivers for the type of cargo targeted, especially in times of high inflation. If there is a shortage of a particular crop or ingredient, it will drive a higher price, making it more profitable for bad actors who are opportunistic and modify their efforts accordingly. A direct example is the increase of alcohol thefts which increased by (67%) over Q2-2021 and (25%) over Q3-2020 as reported by Sensitech.
Consumer Electronics
Electronics are also at very high risk for pilferage and theft. This is due to their high value, and ability to be quickly resold on the black market. It can be more challenging to move these products due to serial numbers and tracking of the devices; but this does not slow bad actors set on making a profit. Additionally, like food and beverage, these products always have a high demand. New electronic product launches, such as next-generation phones and video game consoles are often targeted by organized crime networks. In Q3 0f 2021, electronics thefts took the number two spot with (18%) and were led by Televisions & Displays and software (41%), and Components & Peripherals (19%).
Pharmaceuticals
Another popular and highly lucrative target for pilferage and theft are pharmaceutical products. Much like other industries on this list, pharmaceuticals have an extremely high value on the black market, and the demand for these products due to the pandemic has sky-rocketed. Though there are fewer shipments of pharmaceuticals when compared to other industries, a single load’s worth could be in the millions. The pharmaceutical industry faces more than just a monetary loss with the theft of their product. Often stolen pharmaceuticals are not handled or stored correctly; making them dangerous when they are sold back into the public. This problem poses a threat to consumer safety and ultimately to a company’s brand reputation, which in turn affects their bottom line.
Building & Industrial – Home & Garden
Building industrial and home and garden items round out the top stolen products of Q3 2021 at number 4 and 5. The average loss value for home and garden was $97,351 versus building and industrial at $44,683. These highly sought after products are also hard to track once stolen and resold. Household goods, such as appliances, furniture, and décor, are on the list of most targeted products. Many home appliances have serial numbers, but unlike consumer electronics, they are not trackable upon use. For this category, in Q3 2021 appliances lead the list at (41%) of the stolen items. Other household goods like furniture and expensive décor do not contain serial numbers and can easily be sold at high prices. Many of these items are of high value, and the total cost adds up to detrimental losses and increased insurance rates for companies. Often the culprits are not caught, and the cargo is never located.
Protection with TydenBrooks
Starting with the most robust cargo security solutions, a GPS real-time advanced tracking and monitoring cargo security solution such as our TB-HGR4 and new TB-HGD4 combine high security and real-time visibility to automatically identify and track the location of your cargo and equipment. These devices can be embedded into the freight including cartons to provide instant visibility when an attack is attempted at the case level. TydenBrooks’ GPS tracking and condition monitoring device (TB-HGR4) is a reusable device designed for use in various supply chain and asset monitoring applications.
The devices are capable of reporting location, temperature, light, movement, and shock levels. Available for use as a standalone device or in combination with Tyden Tags creating an expanded sensor network. In addition to the TB-HGR4 we also offer the TB-HGD4 which is a non-rechargeable device offering the same reporting alerts, which lasts up to 60 days.
ISO 17712 barrier seal solutions are an important layer of cargo security that needs to be implemented if you are not able to move to an advanced tracking and monitoring security program. Your best options are to utilize one of our C-TPAT compliant cable or bolt seal solutions. We have the broadest product line on the market for this category, so we have your covered, no matter the industry or application.
Our Dual-Flex, Ez Loc, and FlexSecure high security cable seal line provides a barrier between your cargo and attackers, making an easy smash and grab hit extremely difficult. If your preference is to utilize a high security ISO bolt seal we have our Intermodal II, SnapTracker, and EconoBolt. If you are shipping containers “piggy-backed” by rail we offer a case hardened Super Bolt seal that requires a removal tool as it cannot be removed with bolt cutters.
When these products are used in conjunction with our plastic tamper evident security seals and security tapes and labels, they form a multi-layered security strategy that will protect your supply chain from cargo pilferage and theft.
As trusted experts of all thing’s cargo security related since 1873, TydenBrooks will ensure our customers meet the demands of today’s transportation security requirements. Whether you require advanced real-time tracking and monitoring solutions, high security seals, plastic indicative seals or void security tapes and labels, we supply proven multi-layered security solutions tailored to all industries. If you are interested in learning more about our latest innovations and a free no-obligation shipment consultation, get in touch with us today at [email protected] or contact us at 1-800-458-SEAL.
