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€ 171 Million Cargo Theft In Europe, Middle East & Africa (EMEA) Region – How To Save Your Package From Theft? Cargo theft can significantly impact a company’s bottom line, so it’s important to understand how the theft occurs and how to protect your cargo. Here in this blog post, we will see how this has affected the Europe cargo business and how to mitigate them.
Although the definition of expensive is subjective, high-value cargo might include anything pricey. You can see that the specific definition of high-value cargo is a moving target and that it can apply to things worth a few hundred dollars or euros all the way up to millions of dollars or euros.
High-tech electronics, prescription drugs, and automobiles are a few examples of often-delivered high-value cargo. Additionally, the high-value category may include branded apparel, chemical items, and medical equipment.
Cargo Theft In Europe:
Throughout 2021, goods worth more than 171 million euros were stolen during the road transport process in Europe, Africa, and the Middle East, according to the Transport Asset Protection Association, an organization that focuses on supply chain security and resilience. Despite the severe COVID-19 restrictions that year, this occurred. The total losses for 2021 that were mentioned above represent just a small portion of the overall losses.
While criminal tactics change over time, in Europe, unattended parking lots are where vehicles typically halt when commodities are stolen during delivery.
Currently, a wide range of schemes and frauds target cargo.
Cargo theft has surged in Europe during the past 10 years, particularly as the market for luxury products continues to grow.
Germany And The Cargo Theft Risk:
The majority of cargo theft in Europe typically occurs when transporting high-value cargo in Germany. Experts in supply chains claim that billions of euros worth of goods are transported daily on German highways.
The amount of items categorized as high-volume is increasing since Germany’s industrial production and economic growth are both relatively high.
One of the most significant transit nations in the EU is undoubtedly Germany.
According to reports, insider information causes over 70% of supply chain losses.
Every region on earth has its own unique patterns of crime. Longer supply chains are another unique aspect that may affect the security of cargo. Longer supply networks involve more touchpoints. More touchpoints imply greater exposure.
Crime groups are paying more and more attention to products that are in transit.
Best Practices To Mitigate The Risk Of Cargo Theft:
- You want to ensure that you use a layered approach when securing high-value items. Planning, methods, security monitoring, and packaging are all combined in a layered strategy.
- Your supply chain for high-value commodities will begin by being mapped out to identify any vulnerabilities or risky locations. Then, you’ll start evaluating the procedures you employ, your resources, and the network’s physical infrastructure.
- You can learn more about the tools that will enable you to mitigate risks the most if you collaborate with a security specialist or manager.
- To ensure you’re getting the greatest results, professional security companies will not only implement your procedures but also monitor and measure them. So be sure to make your choice of a security company wisely.
How Can IoT Technology Provide You With Modern Solutions For Cargo Theft?
Many businesses are beginning to utilize new IoT technologies to obtain real-time data and analytics during transport and shipment in order to address these specific difficulties in the cargo industry.
Modern tracking devices with intelligent sensors, like the one from Trusted that can detect location, motion, tilting, light, and more, have the ability to improve supply chain intelligence, streamline procedures, and increase security.
The tracking solution from Trusted combines a battery-operated monitoring gadget with a cloud-based software program that sends real-time position and weather data.
It offers total supply chain visibility, enabling enterprises to lower the risk of theft and increase the likelihood of recovery.
How Trusted Trackers Solves This Issue:
- Through alert messages, determine when suspicious incidents happen. If your equipment is moving when it shouldn’t, this could be a warning to you alternatively if it is inclined excessively or suspiciously.
- Using intelligent software, you can create a geo zone—a defined geographic area—, and it can alert you when assets enter or exit a given location, like a warehouse or construction site.
- Additionally, you may set up alerts for when the tracking device is in the presence of light. This would alert you if a burglar opened a box or container containing expensive goods.
- Intelligent sensors are capable of detecting excessive vibration and shock. So, if your merchandise is mishandled or dropped by a third party, which might potentially be due to theft movements, the trackers will transmit warnings utilizing the tilt and shock sensors incorporated into the device.