MODE Global, a leading third-party logistics (3PL) firm, has partnered with Overhaul, the global leader of in-transit supply chain risk management, to add real-time cargo theft detection and recovery across its carrier network. Within the partnership’s first four months, the two companies coordinated the full recovery of a shipment valued at approximately $500,000, delivering a more than 550% return on MODE’s program investment.
During a cross-country shipment for one of MODE Global’s customers, Overhaul’s real-time monitoring platform flagged a series of stops in known high-theft corridors in California. The stops were validated, but when the trailer went stationary in Indianapolis for more than 24 hours, and both the driver and dispatcher became unreachable, the platform triggered an automated escalation. Overhaul activated its LE Connect network, engaging law enforcement agencies across three states. Tracking data pinpointed the trailer at a secured facility, law enforcement intercepted the vehicle and the shipment was recovered fully intact.
“Our partnership with Overhaul has proven to be an invaluable asset, even within a short timeframe,” said Normand Frigon, COO at MODE Global. “Recovering a shipment of this value, fully intact, speaks volumes about the strength and effectiveness of the processes supporting these shipments. In today’s landscape of increasing fraud and theft, implementing real-time defense mechanisms is an essential component of a comprehensive and reliable logistics strategy.”
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Industry estimates put the true cost of a cargo loss at four times the shipment value when accounting for operational disruption, replacement costs and reputational damage, meaning MODE’s customer avoided a potential impact of roughly $2 million.
The partnership with Overhaul adds a layer of proactive security to MODE’s network of more than 100,000 carriers. Overhaul’s platform integrates with the tracking devices that carriers already have in place, giving MODE consistent protection across its full freight operations.
“The cargo theft problem facing logistics providers today looks nothing like it did five years ago,” said Conor Conlon, senior director of sales at Overhaul. “The tactics are more sophisticated, and the window to respond keeps getting shorter. MODE Global came to us because it wanted a partner that could match that threat level. Our law enforcement network and recovery infrastructure are built for exactly these situations, and this recovery is just one example of the protection that’s now running across the entire network.”
SOURCE: MODE Global