A trailer holding $40,000 worth of meat products was stolen from a business in Walkerton recently. The trailer unit was later found 184 kilometers away in Toronto.
A recent post on Fourteen Forty GPS revealed that cargo theft is a growing problem costing businesses billions of dollars every year. CargoNet, a firm that collects and analyzes cargo-theft data, reports that the average loss per theft was nearly $190,000. There were 10 thefts worth more than a million dollars each.
GPS tracking can protect valuable loads and save trucking companies from expensive claims and losses. In addition to the reported cargo thefts, many incidents go unreported for fear of increased insurance rates or damage to professional reputation.
GPS tracking would have alerted the trailer owners and helped recover the trailer load of meat stolen from Walkerton.