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Approximately a third of business executives have witnessed a noticeable increase in cyber-attacks targeting their logistics networks during the last six-month period, as recently reported cyber breaches on major corporations have highlighted this expanding danger to contemporary enterprises.

Digital risks rise worry scales for procurement managers

Online protection issues have advanced the ranking of worries for procurement managers at multiple businesses globally across diverse industries including industrial, power and technology, according to recent industry research performed in early autumn.

Prominent digital attacks cause considerable financial losses

Latest cyber attacks at multiple major companies have resulted in losses of tens of millions of pounds, moving cyber resilience from being primarily the responsibility of IT departments to becoming a major priority for executive leadership and top executives.

The nature of global trade, how we look at international logistics networks and the digital logistics landscape are ever more connected,

remarked a prominent industry executive.

Global considerations intensify logistics anxieties

Earlier this year, purchasing directors were notably worried about international tensions, including persistent tensions in several regions, along with trade policies that affected worldwide business.

Nevertheless, digital security risks are now matching international conflicts and commercial conflicts as the primary threat for organizations of international trade associations.

Study shows broad consequences

The survey discovered that 29% of directors indicated that organizations within their logistics networks had been compromised by security breaches in previous months.

Significant automotive impact

A notable automotive manufacturer experienced factory closures and was could not to produce vehicles for four weeks, following a digital breach that forced the business to turn off IT networks across multiple global facilities.

The economic impact of this 30-day production shutdown at Britain's largest automotive employer has been estimated at approximately 120 million pounds in missed earnings, or one point seven billion pounds in lost revenues, according to university research from a corporate finance academic.

Current international examples

During the autumn, a well-known international drinks manufacturer became the latest business to be compelled to halt manufacturing at its local plants following a cyber-attack.

The company, which maintains numerous manufacturing plants in its home country producing drinks and various goods, stated that its order processing capabilities, along with distribution activities and client support services, had been halted following a systems outage resulting from the digital intrusion.

Increasing connectivity produces weaknesses

Organizations are increasingly assisted by other organizations. Gone are the days of viewing an organization as an operation functioning in isolation.

Recent prominent security incidents have acted as a strong reminder to businesses to allocate resources to strong digital defences, to secure their business activities and retain consumer trust, leading them to analyze how their supply chains could become possible objectives for digital attackers.