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Approximately 30% of business executives have observed a significant increase in online breaches targeting their supply chains during the previous half-year, as high-profile digital attacks on well-known companies have underscored this increasing risk to modern businesses.

Cyber threats move up concern rankings for procurement managers

Digital security concerns have climbed the ranking of concerns for purchasing directors at hundreds organizations internationally across various business fields including manufacturing, power and tech, according to current professional survey carried out in September.

Prominent digital attacks result in considerable economic damage

Recent cyber attacks at several major companies have cost them millions of currency, transitioning cyber resilience from being mostly the concern of IT departments to becoming a significant concern for executive leadership and senior leaders.

The character of global trade, the manner in which we consider international logistics networks and the technological logistics landscape are ever more interconnected,

stated a leading professional association head.

International factors intensify logistics concerns

Earlier this year, supply chain managers were notably anxious about international tensions, including continuing tensions in various areas, along with trade policies that weighed on global commerce.

However, digital security risks are now rivalling geopolitical shocks and trade disagreements as the primary danger for participants of global business groups.

Survey indicates broad consequences

The study discovered that 29% of directors indicated that organizations within their supply chains had been attacked by cyber incidents in the past few months.

Significant car manufacturing consequences

A notable vehicle producer experienced manufacturing stoppages and was could not to manufacture cars for a full month, following a security incident that required the business to turn off computer systems across multiple international locations.

The financial consequences of this four-week production shutdown at Britain's largest vehicle producer has been calculated at approximately 120 million pounds in lost profits, or £1.7 billion in lost revenues, according to expert assessment from a business economics professor.

Recent worldwide incidents

During the autumn, a prominent international drinks manufacturer became the latest corporation to be forced to cease operations at its domestic factories following a digital breach.

The organization, which operates several production facilities in its home country producing drinks and additional items, stated that its sales management systems, along with distribution activities and client support operations, had been halted following a technical failure triggered by the cyber-attack.

Growing interconnectedness creates weaknesses

Organizations are more and more supported by other organizations. Have disappeared the times of considering an company as an entity operating in independence.

Recent prominent cyber-attacks have functioned as a strong reminder to organizations to allocate resources to robust cybersecurity measures, to protect their business activities and preserve consumer trust, encouraging them to examine how their distribution systems could become likely targets for cyber criminals.