BOSTON, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Tive, the global leader in supply chain and logistics visibility technology, today released its latest industry report, “Connecting the Dots in the Cold Chain Industry.” The comprehensive report, developed in collaboration with Food Logistics, provides critical insights into the challenges and opportunities faced by food and perishable supply chain executives in today’s rapidly-evolving market.
The report is based on a survey of 100 food supply chain executives, and survey responses expose a wide range of issues that these executives worry about—ranging from sustainability to rising insurance costs to increasing instances of cargo theft. Key findings include:
- Many cold chain challenges are linked: The biggest issues cited by respondents are labor shortages (49%), overall lack of visibility (32%), lack of data integration (31%), and poor collaboration (31%)
- Insurance is a now larger concern—and it will only grow: Three-quarters of respondents indicated that their businesses were suffering financial losses—and are facing the possibility of higher insurance premiums as a result—because of insurance claims made due to temperature excursions or quality issues
- Cargo theft is on the rise: 77% of respondents say that their business experienced an increase in cargo theft in the last 12 months—which compounds the growing issue with insurance costs/premiums
- Corporate sustainability is top-of-mind: 46% of respondents say that they improve sustainability by decreasing transit times/idle miles, and 39% achieve this by reducing product waste due to temperature excursions
“As the cold chain industry continues to evolve, it is crucial for supply chain professionals to stay ahead of the curve. This report provides valuable insights into current challenges—and highlights the opportunities that lie ahead,” said Krenar Komoni, Tive CEO and Founder. “At Tive, we are committed to empowering our customers with the tools and knowledge they need to optimize their cold chain operations—and ensure the safe and efficient delivery of perishable goods.”
Tive offers a number of cold chain visibility solutions which help food and perishable supply chain professionals monitor in-transit temperature, humidity, light alerts (indicative of potential theft), shock (for delicate perishables), and location of their shipments—reducing waste and excursions, assuring product quality, achieving food safety compliance, and improving on-time and in-full deliveries. To learn more, visit https://www.tive.com/food.
The full report, “Connecting the Dots in the Cold Chain Industry,” is available for download on the Tive website.
About Tive
Tive is the global leader in supply chain and logistics visibility technology. More than 800 global shippers, logistics service providers, and retailers use Tive to monitor shipment location and condition in real time, gain actionable insights, and ensure end-customer satisfaction. Tive's cloud platform, patented sensor technology, and 24/7 Live Monitoring services reduce excursions and delays, minimize rejected loads, and decrease theft, damage, and spoilage. Tive's Green Program reduces electronic waste by renewing and recirculating trackers and extending their life. Customers count on Tive to ensure that shipments are delivered on time and in full—because every shipment matters. For more information, visit https://www.tive.com/.
Press Contact:
Lane Kearney
Corporate Ink for Tive
tive@corporateink.com
