In 2020, stolen goods from warehouses made up 14% of all global cargo theft. Thieves looking for easy profit have shifted more focus on warehouses, fulfillment centers and distribution centers, which are now seen as prime targets. This ever-increasing problem stems from many factors. One such contributing element is the fact that these crimes are seen as low-risk, high-reward since they carry minor criminal penalties.
Another concerning factor for businesses is that the stolen cargo is hard to track, with less than 20% being recovered. As a result of these rampant criminal actions, the United States alone sees a loss of $15 to $30 billion each year. However, break ins and external theft aren’t the only reason to boost a company’s loss prevention practices. Internal theft is also on the rise, with 90% of all significant theft losses being contributed to employees.
Implementing measures such as these can not only protect a business from financial loss but can also improve employee morale. Although the costs of upgrading may seem daunting, the benefits of doing so often outweigh the investment while working to put everyone’s mind more at ease. For further examples of preventive measures and security upgrades, please see the accompanying resource.