In four of the past five years, consumer electronics topped the list of the most stolen cargos. When employing the GeoLok, electronics companies can gain a secure chain-of-custody, ensure product integrity. The TrakLok solution also gives consumer electronics companies real-time and in-the-moment visibility and monitoring capabilities while providing operational improvements in the transport of electronics.

Preventing Loss

During the past five years, FreightWatch International has recorded 896 cargo theft incidents in the Electronics sector, accounting for more than $512 million in direct losses. Consumer electronics are consistently one of the most targeted goods stolen in cargo theft. Cell phones, televisions, DVD players and game consoles are all easily diverted into the black market. Thefts of cell phones in particular have skyrocketed in the past two years with an average loss of $3.65 million per incident.

In a recent example of what amounts to only a part of the cost of loss of electronics occurred in Florida in early May of 2011. While the value of the electronic equipment that was stolen was $10,000, the retail value of the load was $316,900. This shows that the value of stolen loads of electronics doesn't cover the true value of the loss. This doesn't consider the added cost of replacing and reshipping the product, insurance deductibles as well as the costs of investigation.

By employing the TrakLok solution, electronics companies and their carriers can rest easy knowing that their cargos are protected by the hardened physical security and the superior monitoring capabilities provided by the GeoLok. Preventing a single loss will more than cover the costs of adopting the GeoLok.

Chain of Custody

Viewing the chain of custody in real-time allows companies to answer questions such as where is a container currently, where was it on a specific date, and most importantly, who had access to the container at what points in time.

TrakLok's technologies provide a time-definite and controlled chain of custody that will help adopters improve product integrity ensuring product authenticity, and protection of a client's brand name. To ensure the chain of custody of a shipment, the GeoLokTM provides visibility into the movement and custody of a electronics shipment as the container moves along it route, a record of its location and ownership is captured in real-time.

The TrakLok Solution provides adopters with the ability to:

- verify and maintain security of the container;

- provide chain of custody verification in real-time;

- insure that containers have not been tampered with or accessed ;

Real-Time Visibility

Global visibility and tracking – The GeoLokTM and TrakLogTM combined service provides real-time tracking via satellite, cellular, and wireless mesh technologies for an unrivaled asset visibility system. The TrakLok solution provides real-time updates on transit and inventory information for your ERP systems improving the management and storage of container assets.

Operational Improvements

The GeoLokTM can supply historical data as a means to visualize how to move containers through the logistics system in a more effective, faster, reliable and dependable manner. This data can also benefit companies in improving carrier and 3PL performance metrics. Companies can also realize carrying cost reductions through the visibility of shipment planning, movements and delivery.

The GeoLok provides for hardened physical security, retaining both doors. Tampering with the cargo will initiate an alert from the GeoLok while it deters and delays any intrusion attempt. The GeoLok is also a time and location lock. This ensures the chain-of-custody remains secure, from origin of the shipment to its end destination. Only the Right Person, in the Right Place and at the Right Time can access the shipment.

Sources:

FreightWatch International. "FreightWatch Special Report, US Cargo Theft: A Five-Year Review." Austin, TX. April, 2011.

Steffel, John. "HP products-Orlando FL." Kart Theft Forum, May 5, 2011. Viewed at: http://karttheft.com/kart4um/viewtopic.php?t=606