Shipments Under Siege: The Growing Problem of Cargo Theft
Description
The supply chain faces a lot of challenges right now: geopolitical unpredictability, tariff uncertainty, the end of de minimis exemptions, and constantly changing regulations worldwide.
It doesn’t need one more problem - but it has one anyway. And that’s cargo theft.
According to Senator Deb Fischer (R-Neb), since 2021, there has been a 1,500% increase in cargo theft incidents in the U.S., costing $35 Billion annually. The Transportation Intermediaries Association (TIA) has reported that cargo theft grew by over 600% between November 2022 and March 2023 alone, less than 6 months.
Recent estimates say that 2,500 truckloads are stolen every year, an average of 200 truckloads per month, or 7 per day.
And who pays for all of that theft? Companies shipping goods, companies transporting goods, and you. The consumer.
In this episode of the Art of Supply podcast, Kelly Barner looks into this massive and growing problem:
- The different types of theft associated with the cargo crime epidemic
- How technology is making it easier for criminals to seize loads and making it easier for shippers to safeguard their cargo
- A case example involving one of the worst and fastest growing areas of cargo theft: copper
Links:
- Kelly Barner on LinkedIn
- Art of Supply LinkedIn newsletter
- Art of Supply on AOP
- Subscribe to This Week in Procurement
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