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Roughly a third of business executives have observed a significant surge in cyber-attacks targeting their supply chains during the previous half-year, as recent security incidents on major corporations have emphasized this growing danger to today's organizations.

Cyber threats rise worry scales for procurement managers

Cybersecurity threats have moved up the list of worries for purchasing directors at hundreds companies internationally across diverse industries including manufacturing, power and tech, according to current industry research performed in early autumn.

High-profile security breaches lead to considerable economic damage

Latest cyber attacks at several prominent businesses have cost them millions of money, transitioning digital security from being primarily the concern of technology teams to becoming a major preoccupation for executive leadership and senior leaders.

The essence of global trade, the way we look at global supply chains and the digital supply environment are ever more linked,

stated a leading sector leader.

Geopolitical considerations compound logistics worries

Earlier this year, procurement executives were especially anxious about international tensions, including continuing tensions in multiple regions, along with trade policies that impacted global commerce.

Nonetheless, cyber threats are now rivalling geopolitical shocks and commercial conflicts as the main risk for organizations of international trade associations.

Study indicates widespread effect

The research revealed that almost one-third of directors reported that businesses within their logistics networks had been compromised by digital attacks in previous months.

Major car manufacturing impact

An important vehicle producer experienced production shutdowns and was found itself incapable to build automobiles for an entire month, following a security incident that forced the company to shut down digital infrastructure across several international locations.

The financial consequences of this 30-day factory closure at Britain's largest automotive employer has been projected at approximately one hundred twenty million pounds in lost profits, or 1.7 billion pounds in lost revenues, according to expert assessment from a business economics expert.

Current international cases

In late September, a well-known Japanese brewing group became the newest corporation to be forced to halt manufacturing at its local plants following a cyber-attack.

The corporation, which operates numerous manufacturing plants in Japan producing alcoholic beverages and additional items, reported that its order processing capabilities, along with distribution activities and customer service functions, had been halted following a network disruption triggered by the digital intrusion.

Increasing interconnectedness generates weaknesses

Organizations are increasingly assisted by external entities. No longer exist the times of considering an business as an entity operating in isolation.

Recent high-profile cyber-attacks have served as a important lesson to organizations to invest in strong cybersecurity measures, to protect their own operations and maintain consumer trust, prompting them to investigate how their supply chains could become likely objectives for digital attackers.