Food continues to be the commodity most at risk of theft in the global supply chain and now accounts for one-third of all hijacking incidents, up 29% in 2022, according to new data from BSI.
“Food and beverage continue to be the top commodities stolen in transit throughout the supply chain. Such products are always in high demand, and inflationary factors have resulted in sharp price increases over the past few years. To better navigate the challenges of the modern global supply chain landscape, supply chain leaders can make the most of supply chain intelligence solutions to help them implement proactive and robust supply chain risk management strategies. Equally, the shared experience of the global pandemic and subsequent geopolitical and economic challenges has taught us that no single organization can handle supply chain management on their own – collaboration is absolutely critical,” says Jim Yarbrough, global director, supply chain solutions, BSI.
Key takeaways:
- The analysis finds that food and beverage items now represent 22% of all thefts (up from 17% in 2022 and 14% in 2021). Theft of agricultural food products has also risen to 10% and now accounts for one in 10 hijacking incidents. The number of electronic thefts has remained steady, highlighting the continued targeting of high-value goods for theft.
- Thefts of food in transit are often relatively easy in comparison to higher-value commodities, as these commodities tend not to be shipped with tracking devices and anti-theft technologies.
- Types of thefts have changed, with cargo theft remaining notably high. There has been a drop in thefts from facilities (26% to 21%) but a rise in theft of containers or trailers (4% to 14%) and of employee belongings, truck parts or cash (7% to 10%).
- Thefts are highest in Europe (37%) and North America (23%). Nearly seven in 10 (68%) thefts in 2023 affected trucks, although this varies by region, with violent hijackings more common in North and South America, and thieves more commonly targeting parked trucks in Europe, linked to a lack of secured parking as well as rest requirements for drivers.
“It’s been another remarkable 12 months in the global supply chain. In addition to recent events in the Red Sea, we have seen everything from geopolitical tensions to economic uncertainty, and from extreme weather events to technology-powered digital disruption. The convergence of these powerful factors provides a volatile and complex backdrop for organizations seeking to accelerate progress to a fair society and sustainable world by reducing their environmental impact and improving social responsibility in their supply chain,” says Susan Taylor Martin, chief executive, BSI. “Ensuring smooth global trade can bring key benefits across society, helping to keep costs down for individuals and organizations. In 2024, collaboration can empower organizations seeking to open up the opportunity presented by today’s supply chain challenges and respond to everything from rising theft to climate-related disruption.”
