Almost 30% of business leaders note rise in digital threats on supply chains
Approximately one-third of company heads have witnessed a noticeable rise in digital intrusions targeting their supply chains during the last six-month period, as recently reported security incidents on prominent businesses have highlighted this expanding threat to today's organizations.
Online security issues move up worry scales for procurement managers
Online protection issues have advanced the list of priorities for supply chain executives at multiple companies worldwide across diverse sectors including industrial, energy and IT, according to recent industry research performed in September.
Prominent cyber incidents result in significant financial losses
Recent cyber attacks at various well-known businesses have resulted in losses of tens of millions of currency, transitioning cyber resilience from being mainly the focus of IT departments to becoming a major preoccupation for executive leadership and top executives.
The essence of international commerce, how we consider international logistics networks and the online supply environment are ever more linked,
remarked a prominent sector leader.
Geopolitical elements intensify supply chain anxieties
Earlier this year, procurement executives were particularly anxious about global conflicts, including continuing conflicts in various regions, along with commercial regulations that impacted international trade.
However, digital security risks are now matching global tensions and commercial conflicts as the primary threat for members of international trade associations.
Study reveals extensive consequences
The study discovered that nearly 30% of executives indicated that companies within their distribution systems had been targeted by digital attacks in recent months.
Major automotive impact
A notable automotive manufacturer experienced factory closures and was found itself incapable to manufacture cars for an entire month, following a digital breach that compelled the business to turn off computer systems across several overseas operations.
The financial consequences of this month-long factory closure at the UK's biggest car manufacturer has been calculated at approximately one hundred twenty million pounds in missed earnings, or one point seven billion pounds in missed sales, according to university research from a business economics academic.
Latest worldwide incidents
In late September, a prominent Asian beverage company became the most recent organization to be compelled to halt manufacturing at its local plants following a digital breach.
The company, which maintains multiple industrial sites in the Asian nation producing beer and various goods, announced that its sales management systems, along with delivery systems and customer service operations, had been disrupted following a network disruption caused by the cyber-attack.
Increasing integration creates risks
Businesses are increasingly enabled by external entities. Have disappeared the times of considering an company as an unit working in separation.
Current prominent security incidents have acted as a strong reminder to organizations to invest in strong cybersecurity measures, to secure their own operations and retain customer confidence, prompting them to analyze how their supply chains could become potential targets for digital attackers.
