A new 2024 global report and analysis from BSI Consulting highlights several critical supply chain challenges, from the high number of U.S. electronic thefts to the growing vulnerabilities in the trucking industry introduced by the digitization of systems. In 2024, food, drinks and agricultural products continued to be the top commodities at risk of theft in the global supply chain. Thefts rose 77% globally and accounted for nearly a third (32%) of all incidents last year, against a backdrop of inflation and rising food prices in many major economies.
Electronics accounted for 9% of all product thefts in 2024, with the U.S. as the top location, recording 23% of all regional product thefts last year and the only country to surpass Brazil in any product category. Notably, pharmaceutical thefts saw a 136% increase in 2024, while representing only around 6% of recorded cargo theft incidents in the U.S., and 2% globally.
Hijacking theft was the most frequent tactic globally, accounting for 21% of all incidents (up 10% from 2023). However, in the U.S., hijackings only accounted for 4% of all incidents, with theft of vehicle (22%), theft of container or trailer (16%) and fictitious pickup (15%) the most common methods in the region. The retail industry was particularly impacted by this type of theft as incidents rose from 9% in 2023 to 11% in 2024.
Overall, two fifths (41%) of all global thefts occurred in-transit, 21% from warehouses, 4% at unsecured roadside parking and 4% from parking lots. Thefts from containers and trailers were down 7%, as thieves globally stole cargo in the form of entire vehicles.
In 2024, technology continued to impact global supply chains, with businesses utilizing advancements such as AI, but with such tools also bringing new risks. The report found that the U.S. faces a unique challenge, with thefts generally being strategic and involving deception and fraud, rather than overt violence. The U.S. transport sector is particularly susceptible to strategic theft and organized crime.
For instance, the report highlights how in 2024 groups in the U.S. are now hacking into the Federal Motor Carrier Safety Administration (FMCSA) accounts to book several loads and pilfer them.
The analysis also uncovers cases of companies or employees, most commonly in Asia, staging the hijacking of their own trucks to file fraudulent insurance claims or warehouse managers and employees taking advantage of incomplete records to siphon untracked goods. Thieves stealing small quantities over time, which can eventually accumulate to large losses, became more common. In more elaborate schemes, unauthorized keys are created by workers to access restricted areas.
The research also found that economic tactics such as tariffs are increasingly being used as strategic tools to influence political outcomes in Asia and assert geopolitical objectives.
Amidst geopolitical uncertainties, supply chains continued to grapple with insider thefts and labor movements, underscoring the interconnectedness of these factors and their implications for businesses, governments and societies worldwide. Due to the complex market environment organizations must traverse, it has become increasingly more critical for supply chain, risk and procurement managers to assess their vulnerabilities through a consistent and consolidated viewpoint.
"As geopolitical tensions, economic fluctuations, climate-driven disruptions, rapid regulatory shifts and of course the opportunity of AI, redefine traditional models of operation, we are at a pivotal moment for global supply chains. With supply chains vulnerable to different pressures, businesses must prioritize resilience throughout the supply chain by leveraging technological innovation, risk management strategies and effective information management," stated Susan Taylor Martin, Chief Executive, BSI.
"By taking action and aligning with emerging regulatory frameworks, businesses can accelerate progress to mitigate risks and, while doing so, seize opportunities for growth in an increasingly complex global environment.”
