Approximately a third of business leaders note surge in digital threats on supply chains

Roughly one-third of business executives have witnessed a marked rise in digital intrusions targeting their supply chains during the previous half-year, as recently reported digital attacks on well-known companies have emphasized this growing threat to today's organizations.

Cyber threats rise priority lists for purchasing directors

Digital security concerns have climbed the list of worries for supply chain executives at numerous companies internationally across various industries including production, power and tech, according to current industry research carried out in early autumn.

High-profile cyber incidents lead to significant economic damage

Latest digital intrusions at multiple prominent corporations have resulted in losses of millions of currency, shifting cyber resilience from being mainly the focus of IT departments to becoming a primary concern for executive leadership and senior leaders.

The essence of global trade, the manner in which we consider global supply chains and the digital logistics landscape are progressively linked,

remarked a leading industry executive.

Geopolitical considerations add to logistics worries

In the first half, supply chain managers were notably concerned about geopolitical instability, including persistent conflicts in several regions, along with international tariff measures that impacted international trade.

Nevertheless, cyber threats are now matching international conflicts and commercial conflicts as the most significant threat for participants of global business groups.

Survey indicates broad impact

The study discovered that nearly 30% of directors indicated that companies within their supply chains had been targeted by digital attacks in the past few months.

Significant automotive impact

One prominent automotive manufacturer experienced manufacturing stoppages and was could not to produce vehicles for four weeks, following a security incident that forced the organization to disable computer systems across various global facilities.

The monetary effect of this four-week manufacturing halt at the United Kingdom's primary vehicle producer has been projected at approximately £120 million in lost profits, or £1.7 billion in missed sales, according to expert assessment from a business economics professor.

Recent global incidents

In late September, a prominent Asian beverage company became the newest organization to be forced to halt manufacturing at its home country facilities following a cyber-attack.

The corporation, which maintains several production facilities in Japan producing beer and additional items, announced that its order processing capabilities, along with distribution activities and call center functions, had been interrupted following a network disruption caused by the digital intrusion.

Growing interconnectedness generates vulnerabilities

Businesses are increasingly enabled by other organizations. No longer exist the times of viewing an organization as an unit operating in separation.

Latest high-profile security incidents have acted as a strong reminder to organizations to allocate resources to comprehensive digital defences, to secure their own operations and retain client faith, encouraging them to analyze how their supply chains could become possible targets for cyber criminals.