Cargo theft has hit nearly every type of product; and while it is difficult to identify the total cost of the problem, industry analysts estimate losses in the billions annually. The problem is growing.
In the transportation industry, a strong security and loss prevention department is a necessity, not a luxury. Theft of cargo and equipment is estimated to cost $10 billion to $15 billion annually. Depending on a company’s operating ratio, it takes $10 to $15 in increased revenue to make up for every dollar lost through theft.