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Almost a third of corporate leaders have reported a noticeable increase in cyber-attacks targeting their logistics networks during the previous half-year, as recent cyber breaches on major corporations have underscored this growing risk to contemporary enterprises.

Cyber threats move up concern rankings for supply chain executives

Cybersecurity threats have advanced the list of concerns for procurement managers at hundreds companies globally across diverse sectors including production, utilities and technology, according to latest industry research conducted in early autumn.

Prominent security breaches result in considerable economic damage

Current cyber attacks at various prominent companies have resulted in losses of substantial sums of money, moving cyber resilience from being primarily the focus of IT departments to becoming a primary preoccupation for senior management and top executives.

The nature of global trade, the manner in which we look at international logistics networks and the digital distribution framework are ever more connected,

commented a leading industry executive.

Global elements compound distribution concerns

In the first half, procurement executives were notably concerned about global conflicts, including persistent disputes in several areas, along with trade policies that affected worldwide business.

Nevertheless, digital security risks are now competing with global tensions and trade disagreements as the main threat for participants of worldwide commercial organizations.

Survey shows widespread consequences

The study found that almost one-third of managers reported that businesses within their logistics networks had been compromised by digital attacks in the past few months.

Major vehicle production effects

One prominent vehicle producer experienced production shutdowns and was could not to build automobiles for a full month, following a digital breach that forced the company to disable IT networks across several overseas operations.

The economic impact of this 30-day factory closure at the United Kingdom's primary vehicle producer has been projected at approximately one hundred twenty million pounds in lost profits, or one point seven billion pounds in foregone income, according to expert assessment from a corporate finance professor.

Current worldwide examples

In late September, a prominent international drinks manufacturer became the newest organization to be compelled to stop production at its home country facilities following a cyber-attack.

The organization, which manages numerous production facilities in Japan producing beer and additional items, stated that its order processing capabilities, along with delivery systems and client support services, had been disrupted following a technical failure resulting from the security breach.

Growing interconnectedness generates risks

Businesses are progressively enabled by partner companies. Have disappeared the era of thinking an business as an operation operating in isolation.

Current high-profile digital breaches have functioned as a clear warning to organizations to invest in robust cybersecurity measures, to secure their own operations and retain consumer trust, leading them to analyze how their distribution systems could become likely objectives for digital attackers.