by Kim Souza (ksouza@talkbusiness.net)
With retailers working to reduce theft in stores, the problem continues to grow in the supply chain as cargo thefts escalated 57% last year, according to CargoNet, a subsidiary of data analytics firm Verisk. The problem involves theft from containers, parked trucks and hijacked trucks.
CargoNet maintains a database of incidents and works with members to recover stolen items. It estimates the value of stolen goods at nearly $130 million among those reported incidents, but the number is likely much higher because reporting is not mandatory. The number of reported thefts per month is around 220, up from around 100 in 2014, according to CargoNet.
There was a 41% increase in theft incidents in the first 20 weeks of 2023. CargoNet said thefts increased 68% year over year in the fourth quarter.
