Manufacturing
Manufacturers encounter cargo theft when:
- the manufacturer is liable for a stolen load through contractual terms such as “domestic prepaid”
- shortage is detected upon delivery
- theft causes indirect business losses where goods are not available for sale and must be replenished
- where stolen cargo enters the market through an unauthorized and competing channel
- improper handling of stolen goods and reintroduction into the market creates product liability
Manufacturers maximize CargoNet’s benefits by:
- recommending that motor carriers become CargoNet members to avoid supply-chain interruption
- reporting losses to CargoNet where a shortage is detected from warehouses
CargoNet helps manufacturers:
- quickly recover stolen cargo
- identify and deter pilferage in the supply chain
- improve operational efficiencies
- protect brand image
- reduce product liability risks
CargoNet’s Secondary-Market Monitoring
The chance of recovery drops sharply once stolen cargo vanishes from the conveyance, because there is little or no monitoring of the secondary marketplace, through which the stolen cargo is sold. CargoNet is building a system that will monitor the secondary marketplace to increase recovery chances and make it riskier and less rewarding for those selling stolen cargo.
The monitoring service will include:
- custom-designed software to scan Internet sites and electronic bulletin boards used by cargo thieves
- trained analysts to flag and interpret matches from those scans
- cooperation with brand-protection and product-diversion specialists to ensure that CargoNet's resources help detect diverted or counterfeit products
- theft alerts, tip lines, and incentives for wholesalers and discounters
Recovery Benefits
By scanning the wholesale and online marketplaces, CargoNet will be able to detect stolen goods and help recover more stolen cargo.
Theft Prevention Benefits
Making it harder for thieves and organized crime to sell stolen cargo will help deter cargo theft. CargoNet will develop intelligence to help law enforcement close down fencing and gray-market operations.
Read the press release:
LG Electronics Taps Verisk's CargoNet System To Support Supply-Chain Security Strategy 
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