🔗 Share this article

Roughly a third of business executives have witnessed a marked surge in digital intrusions targeting their supply chains during the previous half-year, as recently reported cyber breaches on well-known companies have highlighted this growing risk to today's organizations.

Cyber threats climb concern rankings for purchasing directors

Online protection issues have moved up the ranking of worries for procurement managers at multiple companies worldwide across multiple industries including manufacturing, utilities and tech, according to recent professional survey carried out in September.

High-profile cyber incidents result in significant economic damage

Recent cyber attacks at various prominent companies have cost them millions of money, shifting digital security from being primarily the concern of digital security units to becoming a significant concern for senior management and top executives.

The essence of worldwide business, how we view global supply chains and the technological logistics landscape are ever more connected,

commented a prominent professional association head.

Global elements intensify supply chain concerns

In the first half, supply chain managers were especially worried about geopolitical instability, including ongoing tensions in several regions, along with trade policies that impacted international trade.

However, cyber threats are now rivalling geopolitical shocks and commercial conflicts as the most significant danger for organizations of worldwide commercial organizations.

Study reveals extensive consequences

The survey found that 29% of directors stated that businesses within their distribution systems had been targeted by cyber incidents in recent months.

Significant vehicle production effects

An important automotive manufacturer experienced manufacturing stoppages and was unable to build automobiles for a full month, following a cyber-attack that required the business to turn off computer systems across various global facilities.

The economic impact of this four-week factory closure at the UK's biggest vehicle producer has been estimated at approximately 120 million pounds in missed earnings, or one point seven billion pounds in lost revenues, according to expert assessment from a corporate finance academic.

Recent worldwide examples

More recently, a well-known international drinks manufacturer became the latest corporation to be forced to cease operations at its home country facilities following a digital breach.

The corporation, which manages several industrial sites in the Asian nation producing alcoholic beverages and various goods, reported that its sales management systems, along with delivery systems and customer service operations, had been interrupted following a technical failure caused by the digital intrusion.

Expanding interconnectedness generates vulnerabilities

Businesses are progressively assisted by other organizations. Gone are the times of thinking an business as an entity functioning in isolation.

Current major security incidents have acted as a strong reminder to companies to allocate resources to comprehensive online protection systems, to safeguard their business activities and preserve client faith, leading them to examine how their supply chains could become likely focus points for digital attackers.