The supply chain has grown more complex.
This means more complex challenges, such as growing issues like loss of cargo due to misplacement and theft, which often result in rising costs and disruption in the supply chain.
However, Trusted’s IoT tracking solutions to cargo loss and theft strike at the core of many of these challenges.
Supply chain disruptions are costing businesses billions
Disruptions in the supply chain are projected to cost businesses in the United States around $30bn each year in cargo loss, according to a report from the FBI (UCR). And only a small number of this is recovered.
Also, internal theft continues to be a plight that is difficult to detect and an uncomfortable issue to deal with, when it comes to confronting employees.
Both cargo loss and theft result in extra expenses to replace equipment, not to mention the lost time and revenue from project delays. These issues do not just show up in bottom-line figures, they also hurt competitiveness and customer satisfaction.
Therefore, there is a growing need for cargo and supply chain security.
IoT technology as solutions to cargo loss and theft
To address these concrete challenges, many companies are starting to adopt new IoT technology to get real-time data and analytics during transport and shipment.
A state-of-the-art tracking device with intelligent sensors that detect position, motion, tilting, light and more, like the one from Trusted, has the potential to enhance supply chain intelligence, streamline processes and create more security.
Trusted’s tracking solution offers both the battery-powered tracking device combined with a cloud-based software solution that transmits real-time data of location and conditions.
It provides complete visibility of the supply chain which helps industries to limit the risk of theft and increases the chance of recovery.
How tracking devices work to solve real-life challenges in the supply chain
The obvious use of a GPS tracker is to keep track of high-value goods. It keeps you aware of the real-time location and status of your assets and equipment globally, enabling you to ensure that everything is where it should be.
However, the advanced sensors of the Trusted tracking devices open up for many more solutions to cargo loss and theft.
- Identify when suspicious incidences occur through alert transmissions. This could be to warn you if your equipment is moving when it should not be. Or if it is being tilted in excessive or suspicious degrees.
- Also, the intelligent software enables you to configure a geo zone – a defined geographic area – and can notify you when assets move in or out of a specified area such as a warehouse or construction site.
- You can also configure alerts when the tracking device is exposed to light. This would notify you if a thief opens up a container or a box with high-value goods.
Recover your stolen and lost equipment
Another major upside to the new IoT technology is the fact that you can easier recover your lost and stolen equipment, in case of theft. We have done this many times before.
The theft security tracking device will provide a position of the asset from GPS, Iridium satellite, or a triangulated position based on mobile network. This makes it easy to pinpoint the location.
Even if a stolen asset is hidden inside a building or placed in other locations where a GPS signal cannot be obtained, Trusted devices have a chance to find them.
A radio beacon for nearfield search can be activated and the tracking device will start sending signals.
These can be picked up by a recovery scanner making it possible to recover the stolen equipment.
Supply chain disruptions and other challenges cost businesses billions and are difficult to manage.
With IoT tracking devices you get various data points to solve different problems.
Cargo loss and theft is one important factor that can be solved by tracking but data on handling is an even more potential business changing metric.