Approximately a third of business leaders observe increase in digital threats on distribution systems
Almost one-third of corporate leaders have witnessed a noticeable rise in cyber-attacks targeting their logistics networks during the previous half-year, as high-profile security incidents on major corporations have highlighted this increasing danger to today's organizations.
Digital risks climb concern rankings for supply chain executives
Digital security concerns have moved up the hierarchy of priorities for supply chain executives at hundreds companies worldwide across multiple industries including industrial, power and tech, according to latest sector analysis performed in the ninth month.
Major digital attacks cause significant monetary impacts
Latest digital intrusions at multiple well-known companies have cost them millions of currency, transitioning online protection from being mainly the concern of IT departments to becoming a significant priority for corporate boards and top executives.
The nature of global trade, the manner in which we consider international logistics networks and the technological supply environment are ever more connected,
commented a leading industry executive.
Global elements compound supply chain concerns
During previous months, supply chain managers were especially concerned about international tensions, including persistent disputes in various parts of the world, along with commercial regulations that impacted worldwide business.
However, cyber threats are now matching international conflicts and trade disagreements as the most significant risk for participants of worldwide commercial organizations.
Study shows widespread impact
The study found that nearly 30% of executives stated that organizations within their distribution systems had been compromised by security breaches in the past few months.
Substantial vehicle production consequences
An important car company experienced production shutdowns and was unable to build automobiles for an entire month, following a digital breach that required the business to shut down computer systems across multiple international locations.
The economic impact of this 30-day production shutdown at Britain's largest vehicle producer has been estimated at approximately £120 million in foregone income, or 1.7 billion pounds in lost revenues, according to expert assessment from a corporate finance expert.
Current global incidents
During the autumn, a well-known international drinks manufacturer became the most recent organization to be compelled to cease operations at its home country facilities following a cyber-attack.
The organization, which operates several industrial sites in its home country producing beer and various goods, announced that its transaction handling functions, along with shipping operations and customer service services, had been interrupted following a systems outage triggered by the cyber-attack.
Expanding integration generates weaknesses
Businesses are progressively enabled by other organizations. Have disappeared the days of viewing an company as an operation working in separation.
Latest major digital breaches have functioned as a important lesson to organizations to devote funding to strong digital defences, to safeguard their business activities and maintain consumer trust, encouraging them to examine how their supply chains could become possible targets for digital attackers.
