Approximately one-third of company executives report increase in cyber-attacks on logistics networks
Roughly 30% of company heads have reported a significant increase in cyber-attacks targeting their logistics networks during the last six-month period, as high-profile cyber breaches on well-known companies have underscored this increasing risk to contemporary enterprises.
Cyber threats rise priority lists for procurement managers
Cybersecurity threats have climbed the hierarchy of concerns for procurement managers at multiple businesses worldwide across various sectors including manufacturing, energy and tech, according to current sector analysis conducted in September.
High-profile security breaches cause substantial economic damage
Latest cyber attacks at several well-known companies have cost them tens of millions of currency, shifting cyber resilience from being mainly the responsibility of digital security units to becoming a primary preoccupation for corporate boards and top executives.
The nature of global trade, the manner in which we consider international logistics networks and the online supply environment are increasingly interconnected,
commented a leading industry executive.
International factors intensify logistics concerns
Earlier this year, purchasing directors were particularly concerned about geopolitical instability, including persistent disputes in several areas, along with commercial regulations that weighed on worldwide business.
However, online attacks are now matching global tensions and trade disagreements as the most significant threat for members of worldwide commercial organizations.
Study indicates widespread effect
The research found that almost one-third of directors indicated that companies within their supply chains had been targeted by digital attacks in previous months.
Major automotive consequences
An important automotive manufacturer experienced production shutdowns and was found itself incapable to produce vehicles for a full month, following a cyber-attack that required the organization to shut down computer systems across multiple overseas operations.
The financial consequences of this month-long production shutdown at the United Kingdom's primary vehicle producer has been projected at approximately 120 million pounds in foregone income, or 1.7 billion pounds in missed sales, according to university research from a corporate finance expert.
Latest worldwide examples
During the autumn, a well-known international drinks manufacturer became the latest corporation to be forced to halt manufacturing at its home country facilities following a security incident.
The organization, which operates multiple manufacturing plants in Japan producing drinks and various goods, announced that its sales management systems, along with shipping operations and client support functions, had been disrupted following a systems outage caused by the security breach.
Growing connectivity creates weaknesses
Companies are more and more enabled by external entities. Have disappeared the times of considering an company as an entity functioning in isolation.
Recent major digital breaches have served as a important lesson to companies to invest in comprehensive cybersecurity measures, to secure their business activities and preserve consumer trust, leading them to investigate how their distribution systems could become possible objectives for digital attackers.
