Nearly one-third of company executives report rise in cyber-attacks on supply chains
Almost a third of business executives have reported a marked surge in digital intrusions targeting their supply chains during the previous half-year, as high-profile security incidents on major corporations have highlighted this increasing threat to today's organizations.
Online security issues move up priority lists for purchasing directors
Digital security concerns have moved up the hierarchy of worries for procurement managers at multiple businesses internationally across various sectors including industrial, power and tech, according to recent professional survey performed in September.
Major security breaches result in considerable economic damage
Latest cyber attacks at various major companies have cost them tens of millions of money, shifting online protection from being mainly the focus of technology teams to becoming a significant preoccupation for executive leadership and senior leaders.
The essence of international commerce, the way we look at international logistics networks and the digital logistics landscape are progressively linked,
remarked a senior professional association head.
Global considerations add to logistics worries
In the first half, purchasing directors were notably anxious about international tensions, including continuing tensions in several parts of the world, along with commercial regulations that affected worldwide business.
Nonetheless, digital security risks are now matching global tensions and trade disagreements as the main risk for participants of international trade associations.
Survey reveals broad effect
The survey found that almost one-third of executives indicated that businesses within their supply chains had been targeted by digital attacks in previous months.
Significant car manufacturing consequences
A notable automotive manufacturer experienced production shutdowns and was could not to build automobiles for a full month, following a security incident that forced the company to shut down computer systems across various global facilities.
The financial consequences of this 30-day manufacturing halt at Britain's largest automotive employer has been calculated at approximately 120 million pounds in foregone income, or one point seven billion pounds in missed sales, according to expert assessment from a business economics academic.
Current international cases
During the autumn, a well-known Asian beverage company became the latest corporation to be forced to stop production at its domestic factories following a cyber-attack.
The company, which operates several industrial sites in Japan producing alcoholic beverages and various goods, stated that its transaction handling functions, along with shipping operations and client support services, had been interrupted following a network disruption triggered by the security breach.
Expanding interconnectedness creates vulnerabilities
Organizations are increasingly assisted by partner companies. Gone are the days of thinking an business as an entity working in independence.
Current high-profile cyber-attacks have served as a important lesson to organizations to allocate resources to strong digital defences, to safeguard their business activities and retain customer confidence, leading them to examine how their logistics networks could become potential targets for digital attackers.
