In this must-read article from Devin Nye published by Supply Chain Brain, Cargo Theft: The Good, the Bad and the Ugly, dives into the full economic impact caused by cargo theft throughout the supply chain. The financial damage extends way beyond the value of the goods stolen and trickle down all the way to the consumer who absorbs a part of the costs from an global issue.
The value of lost cargo is a huge, vague cost to consumers. Stolen cargo increases the cost of the remaining product sold, as vendors and manufacturers raise prices and pass along the cost to the consumer. Companies choosing to make a claim must pay increased insurance costs with higher rates and deductibles. Many choose not to in order to avoid higher financial costs as well as damage to their reputation, the latter of which is far less tangible. They fear that reporting a theft will cause them to be viewed as irresponsible or unconcerned about their own products.
Seguratainer’s mission is to see the number of incidents and worldwide losses decrease as the security of the supply chain increases: providing heavy duty locking systems to protect the containers and closed body trucks and giving a 24/7 audit trail to make transparency and accountability the new norm.
Don’t settle for less. Protect your cargo.
Read the rest of the article from Supply Chain Brain web here.