Cargo theft has now become the issue of the time about which everybody is talking in the industry. Everybody is frightened and somehow distressed about the same, thinking about how it can be controlled.
As per the reports, there are shared goals of educating the transportation and manufacturing sectors about the effectual cargo theft risks present across the globe. With the increased awareness of cargo crime trends, the industry will be able to capture a proactive approach to intercepting cargo crime and decreasing the financial loss and brand reputation damage that outcome from cargo crime.
Here are some facts related to the importance of Freight shipping tracking for businesses from cargo theft:
- Theft from road vehicles accounts for a huge proportion at 84%.
- The biggest type of cargo theft is Slash and Grab i.e. at 26% extensively with notable regional variation.
- The fusion of food, beverage, alcohol, and tobacco builds up the most common commodity group at 34%.
- South America tops the geographical analytics of the median value of each theft at approx $77,000.
Based on the report, stability across the region in terms of the most common means of transport is via road and its products are at target, moreover, there were few variations in the median value of the cargo that was affected by the theft:
- In Asia $19,000
- In Europe and North America $60,000
- In South America $77,000
What is the Importance of freight tracking for business?
Cargo tracking technology allows shippers to control their transportation and locate the shipment at any point in its journey. It helps track and trace features available on an asset tracking and management system.
With real-time cargo tracking, you are aware of your carrier performance, transportation costs, and market trends by managing your logistics properly. Cargo tracking is an important element of supply chain management.
Decrease Costs and Improved Processes
Tracking your freight’s journey leads to service levels and charges. Whereas, using the data that cargo tracking technology usually generates through which shipping organizations can analyze and communicate with carriers, checking in on pickup time, in-transit time, and delays. Through this, a shipping company can make cost-effective changes to enhance the supply chain.
Enhanced Visibility and Improved Performance
With cargo tracking features, professionals can easily monitor metrics distressed to ship movement. Visibility is necessary for outgoing shipments as you will be able to see the shipment’s progress and know if your customer needs information concerning the delay.
Enhanced Customer Exposure and decreased Hold-On
Tracking shipments is necessary for customer transparency. Roughly, half of the population of America pays attention to their shipping as part of their overall shopping exposure.
In today’s technology-loving world, cloud technology has changed the style of businesses. With SaaS technology, a shipping company no longer needs to front the money for technology as it is all web-based now, where you pay for what you use. Today, companies offer their customers logistics solutions for shipping and believe in developing advantages and building customer loyalty through them.
Cargo tracking technology represents the information that shipping companies can use to improve service by providing real-time shipping information to their customers. It performs as a superior form of customer service today. It is one of the main reasons why shipment tracking has become an integral part of the logistics industry.
The businesses can monitor the condition of the cargo through cargo tracking during their transport, like when their packages leave and when they arrive at their prime location.