Better Cargo Security Would Save $$ for Supply Chain

Cargo theft costs billions, according to the American Association of Port Autorities. People involved in shipping containers in the supply chain could save significant funds by increasing their security measures.

An article by Torry Shealyon the UK’s Security Park website says the International Cargo Security Council estimates $25 billion in merchandise was stolen in the US each year, and the European Union estimates stolen cargo (from trucks) to the tune of 8.2 billion Euros. 

“The total worldwide theft of cargo approaches $50 billion,” says the article, and the numbers are considered low since many cargo thefts go unreported.

A report by A.T. Kearney suggests security measures such as integrated security devices on shipping containers could save $1,200 per transit container through productivity gains. “Using advanced devices to lock and track containers would be a major advance toward realizing these savings,” says the article.

To read the article, click here: