Theft Prevention Information and Downloads

Theft in the shipping and warehouse industry costs billions annually, with the average loss per incident reaching $176,290, and the total value of stolen goods in 2023 reaching $694,327,811. 

Here's a more detailed breakdown of the issue:

 Financial Impact:

• · Shipping and Warehouse theft is estimated to cost shippers and trucking companies at least $30 billion a year in the US, according to the FBI. 
• · US Immigration and Customs Enforcement estimates that cargo thefts along the supply chain account for between $15 billion and $35 billion in losses annually. 
• · In 2023, the total loss from cargo theft amounted to $694,327,811. 
• · The average loss per theft incident in 2023 was $586,917, a 67% increase compared to 2022. 
• · The average loss value across all incidents in the first half of 2024 was $115,230, which is 83% higher than the H1-2023 average. 

•   Straight theft: When product is physically stolen from its current location. 
•  Shipment pilferage: Stealing smaller amounts of items that individually have little value. 
•  Fictitious pickups: A blend of identity theft and cargo theft that can affect all parties in a supply chain. 
•  Trends and Statistics:
•  There were 11,183 reports of product thefts in 2023, with an average loss of $586,917 per theft. 
•  The number of reported thefts increased by 46% in the first quarter of 2024 compared to the same period in 2023. 
•  In the first half of 2024, thefts rose by 49% in North America. 
•  The average loss value per Incident grew 83% in the first half of 2024. 

 Targeted Products:

• Electronics, auto parts, clothing, shoes, home & garden items, and pharmaceuticals are popular targets. 
• Food and drink items are also frequently targeted.  

Geographic Hotspots:

· Florida, California, Tennessee, and Texas have seen significant increases in cargo and Inventory theft activity. 

· Impact on Supply Chains:

· Theft can lead to increased insurance premiums, disrupted supply chains, and replacement costs for stolen goods. 

· Supply-strapped businesses are willing to pay top dollar for high-demand products, regardless of their source, which contributes to the increase in cargo thefts. 

· Mitigation Strategies:

· Technology, processes, and personnel have become essential in preventing cargo theft and pilferage incidents. 

· All industry members should take steps to mitigate fictitious 

product and cargo pickups. 

Focus on securing shipments, especially high-value ones, and implementing robust security measures. 

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Our team of experts will work with you to design and install a security solution that meets your unique needs, and provide ongoing support and maintenance to ensure that your system is always up and running.