Supply Chain Risk Analysis and Assessment: Cargo Theft

Academic understanding of risk (e.g., numbers, causes, and classifications) is insufficient to enable risk prevention or management. Each risk depends upon its environment and context; thus, for risk managers to prevent or manage risks, they must understand them within a broad context. This article provides a detailed analysis and assessment of supply chain risks related to cargo theft. The research method is deductive, with the analysis based on the data in the Transported Asset Protection Association's (TAPA) transport‐related crime database. The results are analyzed and discussed within a frame of reference based on supply chain risk management literature and on the premise that cargo theft risk is a function of both impact and probability. The findings show that practitioners can understand and address cargo theft risks more effectively when they examine the frequency and impact of such theft separately. The article also concludes that risk and related theft should be considered in the context of criminological theories.