May 17, 2020
LG Electronics boosts supply chain security
The companys strategy consists of developing and implementing best practices, employing cutting-edge security technologies, and improving cargo theft i...
The company’s strategy consists of developing and implementing best practices, employing cutting-edge security technologies, and improving cargo theft information sharing with law enforcement.
“The protection of the LG supply chain is a critical and strategic issue because security breaches impact our operational effectiveness and our brand,” said LG’s head of logistics, Larry Monaghan.
“A vital part of our strategy is to work closely with our transportation providers to ensure they are aware of our policies and effective resources to combat theft.”
Monaghan explained that as a secure, central channel, CargoNet would allow it to quickly share cargo crime data and analysis.
He added that a national database would only work if a critical mass of carriers uses the system. He encourages all carriers to be actively engaged in an additional level of security and collaborate in the success of the initiative.
Maurizio Scrofani, Managing Director of CargoNet, said: “When managing risk within the supply chain, we expect to see positive results through a comprehensive ‘layering’ of security efforts and standards.”
Edited by Jennifer Denby