Cargo theft incidents have increased by more than 25% since the pandemic began and are continuing to rise ahead of the holiday season, according to visibility solutions provider Overhaul.
Thefts of consumer electronics and tech as a whole – laptops, gaming systems and other hot commodities – have spiked as ports struggle with ongoing supply chain delays and congestion.
Karin Stevens, general manager of Enterprise at Overhaul, told CM about delays in US ports: “There’s a two to three week delay as they’re coming into the Port of LA and Port of Long Beach, I think everyone is seeing that crunch. Freight at rest is freight at risk, as we say.”
Theft of pharmaceutical products are also on the rise, representing a loss of multiple millions of dollars and an ethical concern on whether it can still be used if recovered.
Most cargo theft occurs on the road, often in what Stevens calls “the red zone,” which is the first couple of hundred miles from the origin points, or in hot zones such as large urban areas and key cities.
Offering a preventative approach, Overhaul advises its customers as part of its driver protocol to ensure that when drivers do stop, they are secured by parking in a well-lit area or backing up against a wall so there is less accessibility, for example.
Overhaul offers a broad solution of visibility products to the industry in order to help its customers prevent spoilage, avoid disruptions and theft of their cargo, and help recuperate it in the worst-case scenario.
With the current supply chain climate, customer dissatisfaction caused by delays is becoming a big concern and Overhaul has seen that companies that may have been looking at basic visibility are now shifting to more comprehensive, real-time solutions.
Its Sentinel solution provides end-to-end real-time visibility that offers a configurable experience that can be lane specific or mode specific and aligns with a customer’s standard operating procedures.
“We really focus on what matters to the customer and build that into our solution such that we’re providing real-time corrective actions and management of any kind of disruptions within the supply chain,” Stevens said.
Overhaul makes use of a team split between engineers and subject matter experts from across the industry to be able to understand the issues that exist when gathering data.
Sentinel brings in data from any source that is available, such as IoT devices, with the aim to make sense of that data and make it more valuable to the user.
“What’s the saying? Garbage in, garbage out,” Stevens said. “When we receive information, we’re trying to make sense out of it for our customers and make it actionable.”
While Overhaul’s main strategy is prevention, it has also developed its solutions to be of use in the 5% of cases where goods are lost or stolen.
LE Connect includes proprietary technology that can engage with law enforcement directly, sending a digital packet with all necessary information, including pictures of the equipment itself.
“Our response times are within minutes, not hours or days,” Stevens said. “We’re batting a thousand in terms of our response times in certain regions and our recovery rate is up to 98% for full truck load thefts. This is a very critical component of our solution, and we have the ability to react and respond quickly.”
Overhaul makes use of three global security operations centres – one within Europe, based in Ireland, in addition to Mexico and the US – which monitors different circumstances around the globe and allows the company to mitigate risks in customers’ supply chains.
In addition to LE Connect, the company also offers its TruckShield solution which works in partnership with insurers to ensure driver compliance to help avoid speeding, accidents and more.