The East Coast port strike is impacting ports from Maine to Texas, causing supply chain disruptions and rerouting shipments to West Coast ports (which delays delivery times and increases costs). Retailers should prepare for a sudden influx of inventory, which may cause merchandise to be placed in high risk areas for theft. And because of overflow, inventory may be stored in offsite locations that lack proper security. Now is an opportune time to rethink and evaluate your security/safety strategy plan.
Valid concerns…. But candidly, Security professionals should have been planning for these risks months ago. But get after it - take steps now. “Merchandise at rest; is merchandise at risk.”
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Loss Prevention Leader with 20+ years in retail and restaurants. Expertise in security, HR, risk mitigation, asset protection, and investigations. Advanced knowledge of Loss Prevention practices. Retired Military SNCO
1moThe strike ended on October 3, 2024, after intense negotiations with support from the Biden administration. The deal, which temporarily extended the workers' master contract, allowed ports to resume operations. However, final agreements on key issues are still under negotiation, with a deadline for a new contract set for January 2025. This strike highlighted the vulnerability of supply chains and the potential economic impact of such disruptions, with estimated losses ranging from $2.1 to $4.5 billion per day depending on the length of the strike. The reopening of ports is expected to take time to return to full operational capacity.