CargoNet® and SC-integrity, Inc. (LoJack SCI) announced today an alliance to transform supply chain security and efficiency. Together, the organizations plan to provide supply chain security risk and performance analysis services through a unique data collection and analytics platform. CargoNet is a division of Verisk Crime Analytics, a Verisk Analytics (Nasdaq:VRSK) company. SC-integrity, Inc., is a subsidiary of LoJack Corporation (Nasdaq:LOJN).
Historically, both organizations have independently collected and disseminated information to customers, the transportation industry, and law enforcement to help prevent cargo losses, analyze trends, and recover stolen cargo loads. By working together, CargoNet and LoJack SCI, which also provides telematics services, will consolidate and standardize cargo theft reporting in North America, a critical step in improving supply chain security.
The two organizations will help the transportation and supply chain sectors overcome existing fragmentation around the collection, analysis, and distribution of cargo theft data and analytics. Ultimately, clients of CargoNet and LoJack SCI will gain new capabilities to predict, analyze, visualize, and mitigate supply chain security risk, as well as improve goods movement performance. As part of this process, the organizations will integrate the CargoNet and Supply Chain Information Sharing and Analysis Center (SC-ISAC) cargo theft database operations. The combination will streamline data collection and analysis, increase support to customers of CargoNet and LoJack SCI, and improve data collection and sharing between the industry and law enforcement.
LoJack SCI operates the SC-ISAC, which was created in 2005 as a result of Presidential Decision Directive/NSC 63 in 1998 and updated in 2003 with Homeland Security Presidential Directive/HSPD-7 to protect critical supply infrastructure. CargoNet, launched in 2010, provides supply chain crime data collection, analytics, and secure sharing in North America through the support of insurers, logistics companies, shippers, industry organizations, and law enforcement.
“Through this alliance, we will help the supply chain sector take a significant step forward in regard to integrated data, analytics, and theft prevention,” said Ted Wlazlowski, CEO of SC-integrity, Inc. “Together, LoJack SCI and CargoNet will be able to better define our missions for the SC-ISAC, to address a wider set of supply chain factors for homeland security, and, for CargoNet, to support cargo theft prevention and recovery through data analytics. Senior members of government and industry will help us accomplish these missions through the creation of an SC-ISAC advisory board.”
“Supply chain crime data is an important component of helping our customers predict and monitor a variety of risks in their supply chains,” said David Shillingford, president of Verisk Crime Analytics. “The consolidation of cargo theft reporting takes us a step further in this mission. This alliance provides an opportunity to integrate risk analytics with telematics systems. It also offers an exciting glimpse into the future of supply chain risk management.”
“Verisk is committed to building innovative risk solutions to help supply chain operators make risk an integral part of their strategic and operational decision making,” added Perry Rotella, group executive of Verisk’s supply chain risk analytics business and senior vice president and chief information officer of Verisk Analytics. “Security and telematics are an important component of our overall strategy.”