Nearly 30% of company executives report increase in digital threats on supply chains
Roughly 30% of company heads have observed a marked surge in cyber-attacks targeting their logistics networks during the previous half-year, as recently reported security incidents on well-known companies have highlighted this growing danger to modern businesses.
Online security issues move up priority lists for supply chain executives
Online protection issues have climbed the hierarchy of worries for procurement managers at multiple businesses globally across various business fields including industrial, energy and technology, according to recent sector analysis conducted in early autumn.
High-profile security breaches lead to significant monetary impacts
Recent security breaches at various major businesses have cost them substantial sums of currency, moving cyber resilience from being mainly the responsibility of IT departments to becoming a significant concern for executive leadership and senior leaders.
The character of international commerce, the manner in which we view worldwide distribution systems and the digital supply environment are ever more linked,
commented a prominent industry executive.
Global considerations intensify supply chain worries
Earlier this year, supply chain managers were particularly worried about geopolitical instability, including continuing conflicts in various areas, along with trade policies that weighed on global commerce.
Nonetheless, online attacks are now rivalling global tensions and trade disagreements as the primary danger for participants of international trade associations.
Study reveals extensive impact
The survey found that nearly 30% of directors indicated that companies within their distribution systems had been compromised by digital attacks in the past few months.
Major car manufacturing effects
One prominent automotive manufacturer experienced manufacturing stoppages and was found itself incapable to build automobiles for four weeks, following a digital breach that compelled the business to turn off IT networks across various international locations.
The financial consequences of this 30-day factory closure at the United Kingdom's primary car manufacturer has been projected at approximately £120 million in lost profits, or 1.7 billion pounds in missed sales, according to expert assessment from a business economics academic.
Latest worldwide incidents
More recently, a prominent Asian beverage company became the latest business to be required to cease operations at its home country facilities following a cyber-attack.
The corporation, which operates numerous manufacturing plants in Japan producing drinks and various goods, reported that its sales management systems, along with distribution activities and call center functions, had been interrupted following a network disruption triggered by the cyber-attack.
Increasing integration creates risks
Businesses are more and more assisted by external entities. Gone are the days of viewing an business as an unit working in separation.
Recent high-profile digital breaches have acted as a clear warning to organizations to devote funding to strong cybersecurity measures, to safeguard their business activities and maintain consumer trust, leading them to examine how their supply chains could become possible focus points for hackers.
