SiteTrax evaluates the myriad ways in which integrating its asset management system enhances security and fortifies financial outcomes.
Cargo thefts are increasing sharply from containers disappearing enroute to theft from logistics facilities. The security woes of the industry are brought into painful clarity in the most recent report from Overhaul, a leading logistics security solutions provider, for Fall 2023. The report reveals a startling 41% rise in cargo thefts in Q3 2023 compared to the same quarter the previous year. Moreover, the average loss per incident in the United States for Q3 2023 was $496,955, marking a 16% increase from the previous quarter alone.
The report emphasizes that thefts of full truckloads and pilferage are the most common, accounting for 38% and 37% of all incidents, respectively. Company yards and premises are also increasingly vulnerable, with large-scale cargo thefts at these locations rising by 16% from Q2 to Q3.
This paints a worrying picture, suggesting that if you’re not actively enhancing your security measures, you’re exposing yourself to increasingly sophisticated and adaptive threats. So what can you do to help secure your organization and ensure you’re providing resilient services to your customers?
Robust security protocols are essential for protecting sensitive data, maintaining stakeholder trust, and preventing disruptions and losses throughout the supply chain. By enhancing operational efficiency and establishing new benchmarks for supply chain protection, SiteTrax is setting the standard for leveraging AI-powered computer vision to break the traditional visibility barriers that leave supply chains vulnerable in an increasingly complex and dynamic business environment.
Know You’re Safe by Knowing Where Your Assets are in Real Time
Enhanced visibility is key to addressing security challenges in the supply chain. By ensuring the right pickup and delivery processes are followed, and by providing secure, evidence-based records of each transaction, companies can significantly bolster yard and transportation security. This level of transparency helps to deter theft and ensure accountability as a preventative step, creating a safer and more controlled standardized process.
Visibility is the baseline for mitigating these issues and by utilizing SiteTrax’s computer vision capabilities, businesses can ascertain in real-time an intermodal asset’s ID, chassis ID, and even motion within the targeted field of view, all tied to a capture geotag and timestamp. This user-friendly, state-of-the-art technology works quickly and easily to provide the data needed to ensure logistics companies have the capability to locate the status of their high value cargo quickly and cost-effectively.
Furthermore, this key information serves to fortify the security of those assets by providing an up-to-the-minute accounting for not only whereabouts but also conditions, potential delays, and other issues that can adversely impact a business’s bottom line.
SiteTrax Offers Additional Security Capabilities
We know that idle and untracked assets are vulnerable, and that can easily lead to container doors being opened illegally and other damages to occur. Beyond simply providing enhanced visibility and reliable asset tracking data, SiteTrax’s leading-edge AI detection technology delivers additional scanning possibilities that include identifying open container doors, unauthorized people within the targeted field of view, idle assets (i.e. a train stopping for too long), and damaged assets. Consequently, these unprecedented detection capabilities not only give an enhanced level of security, they allow businesses to make decisions and determinations based on this information in real-time. Having the ability to adjust and adapt quickly can make all the difference when deadlines and dollars are at risk.
Scaling with SiteTrax
Regardless of your company’s size, SiteTrax’s technology protects your bottom line. Through improved visibility, ongoing asset tracking and monitoring, and risk management, businesses can guarantee the security of commodities regardless of the volume of shipments they handle.
Likewise, this increased visibility allows for more accurate compliance and documentation and also empowers the company to quickly respond and recover in the event of a security incident thus minimizing disruption and loss.
The SiteTrax Difference
SiteTrax stands as a cornerstone in supply chain security, pioneering advanced solutions that redefine industry standards. By integrating cutting-edge technologies and meticulous methodologies, SiteTrax not only fortifies asset protection but also enhances operational resilience.
With a steadfast commitment to innovation and customer-centric solutions, SiteTrax continues to empower businesses worldwide, ensuring they navigate the complexities of today’s global supply chains with confidence and security. As threats evolve, SiteTrax remains at the forefront, dedicated to safeguarding assets, maintaining compliance, and fostering sustainable growth for its partners and clients alike.
If you’re ready to step up security within your business’s supply chain, contact SiteTrax to learn more about how our state-of-the-art solutions will benefit your company.
