Cargo loss can trigger a domino effect of costs — lost revenue, supply chain interruptions, insurance claims, replacement shipments, customer service costs, and more. For high-value loads, the stakes are even higher. When shipping high-value goods, you want to make every effort to manage your load actively. Prevention of loss or damage to critical goods requires complete visibility into your in-transit shipments.
A real-time visibility platform helps protect your precious cargo so you can deliver on-time and in-full every time. Here’s how:
Stop Rejected Loads
Sensitive loads, such as food, pharmaceuticals, and medical equipment, remain in high demand amidst the pandemic. However, the logistical complexities associated with such sensitive goods often lead to rejected loads due to spoilage, temperature violations, and damage.
When loads are rejected at the dock, it’s expensive and costs everyone throughout the supply chain, both financially and in weakened customer relationships. The high-tech solution for high-stakes shipments lies in real-time cargo conditions monitoring. Visibility goes beyond dots on a map!
With complete visibility into not only where but how your cargo is, you’re able to:
- Realize temperature and humidity variations due to equipment malfunction or driver error;
- Discover when excessive shock or tilt is detected during transit, and determine the impact of potentially harmful events;
- Actively solve problems - like expediting a replacement shipment or notifying a customer of potential damage;
- Identify when and where damaging incidents occur, and adjust for future shipments.
A 3PL Turns to Visibility for Help Actively Managing High-Value Loads
Third-party logistics provider Crane Solutions has integrated Tive’s in-transit visibility platform to improve their active management of high-value shipments. With goods such as server racks, solar panels, pharmaceuticals, and designer clothing - valued up to several million dollars on a single truck - they required real-time information on the location and condition of their loads.
By adopting Tive’s visibility solution, Crane is equipped to:
- Keep pharmaceutical clients informed on their shipment location and temperature in real-time;
- Alert electronic equipment customers of potential damage caused by shock;
- Provide clients real-time location information to put them at ease.
“We offer Tive as a value-added service to clients with valuable, time-sensitive loads,” said Josh Hussin, Client Development Manager, Crane Solutions. “Our goal is to provide great service, communication, and visibility so that we become our client’s most trusted provider.”
Avoid Freight Claims
Damaged and stolen goods are among the leading causes of freight claims. And while a claim may help you recover losses from damage or theft, it typically will not cover lost profit and ancillary expenses. These costs multiply exponentially with high-value loads.
Avoiding freight claim costs and headaches is attainable with technology that offers a proactive supply chain management approach, including in-transit shipment trackers, intuitive software, and 24/7 support. Real-time visibility into your shipments’ location and condition gives you the ability to avoid preventable theft, damage, and delays. The result - improved supply chain management and freight damage—and loss claims that naturally diminish.
Combat Cargo Theft
Today’s chaotic supply chain landscape, disrupted by the coronavirus pandemic, includes regular shipment delays. Unfortunately, when a load is idle, it’s a higher risk for theft.
Cargo Theft in Q3 — 2020*:
- 223 supply chain risk events involving theft of cargo
- 23% increase of cargo theft events from Q3 2019
- $33.77 million estimated total in cargo stolen
*As recorded by CargoNet, in the United States and Canada
Logistics professionals are increasingly turning to intuitive ways to ensure shipment security (and save their sanity!). Real-time location and condition tracking help protect shipment integrity through critical data and actionable insights.
With heightened supply chain visibility, companies can:
- Locate and secure cargo at any point in the supply chain;
- Act on deviations from expected route patterns;
- Detect in-transit incidents by monitoring light intrusion;
- Realize security incidents immediately when they happen;
- React to incidents in real-time, such as alerting customers and originating cargo recovery actions.