SECURITY case study
A global Fortune 500 company that manufactures high value electronics equipment was concerned about theft of their freight during road transportation. After identifying that the theft rate of these highly desirable goods was increasing per annum, they decided that they needed to do something about it. The company contracted a well known risk assessment company to develop comprehensive security standards and procedures (which included a telematics tracking system) and directed their freight forwarder to adopt the TAPA TSR (Trucking Security Requirements) and FSR (Freight Security Requirements).
Within the first year of implementation, they had a 90% decrease in freight theft, proving how effective these security measures can be. Additionally, the loss rate remained stable over three years, allowing the company to prove reduced risk, and they were consequently granted a reduction in their insurance premiums by 70%.