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Roughly 30% of business executives have reported a marked increase in cyber-attacks targeting their supply chains during the past six months, as recent security incidents on well-known companies have highlighted this increasing risk to today's organizations.

Digital risks climb concern rankings for procurement managers

Digital security concerns have moved up the ranking of concerns for procurement managers at numerous companies internationally across various industries including manufacturing, power and tech, according to current professional survey carried out in the ninth month.

High-profile cyber incidents result in substantial monetary impacts

Recent security breaches at various well-known companies have led to financial impacts of tens of millions of currency, moving online protection from being mostly the concern of technology teams to becoming a major preoccupation for corporate boards and top executives.

The character of international commerce, the way we look at international logistics networks and the digital distribution framework are increasingly linked,

stated a senior professional association head.

Global elements intensify logistics concerns

Earlier this year, supply chain managers were especially concerned about international tensions, including persistent disputes in various areas, along with trade policies that weighed on international trade.

However, cyber threats are now competing with global tensions and trade disagreements as the most significant threat for members of worldwide commercial organizations.

Survey indicates widespread consequences

The research revealed that almost one-third of executives stated that organizations within their supply chains had been attacked by digital attacks in the past few months.

Substantial automotive consequences

An important car company experienced manufacturing stoppages and was unable to build automobiles for a full month, following a cyber-attack that compelled the business to disable IT networks across several international locations.

The financial consequences of this four-week manufacturing halt at the UK's biggest vehicle producer has been projected at approximately £120 million in lost profits, or £1.7 billion in lost revenues, according to academic analysis from a commercial economics expert.

Recent worldwide incidents

In late September, a prominent Japanese brewing group became the newest corporation to be compelled to stop production at its home country facilities following a security incident.

The company, which maintains multiple production facilities in Japan producing drinks and additional items, announced that its sales management systems, along with shipping operations and client support services, had been halted following a technical failure caused by the digital intrusion.

Expanding interconnectedness generates weaknesses

Organizations are progressively supported by partner companies. Have disappeared the era of viewing an company as an operation operating in independence.

Current major cyber-attacks have functioned as a clear warning to organizations to devote funding to strong online protection systems, to secure their business activities and maintain client faith, prompting them to analyze how their logistics networks could become possible targets for hackers.