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Roughly a third of company heads have reported a noticeable increase in cyber-attacks targeting their supply chains during the past six months, as recent security incidents on prominent businesses have emphasized this growing threat to today's organizations.

Online security issues move up concern rankings for procurement managers

Cybersecurity threats have climbed the list of concerns for procurement managers at numerous organizations worldwide across diverse business fields including industrial, power and tech, according to latest industry research carried out in September.

High-profile digital attacks result in considerable financial losses

Latest security breaches at several prominent companies have cost them substantial sums of money, shifting digital security from being mainly the focus of technology teams to becoming a major priority for executive leadership and senior leaders.

The essence of global trade, the manner in which we consider worldwide distribution systems and the online supply environment are ever more connected,

remarked a leading industry executive.

Global considerations intensify logistics anxieties

Earlier this year, purchasing directors were especially concerned about international tensions, including persistent conflicts in multiple regions, along with commercial regulations that impacted international trade.

Nevertheless, digital security risks are now rivalling international conflicts and trade disagreements as the most significant danger for members of global business groups.

Survey indicates broad effect

The research discovered that nearly 30% of managers stated that businesses within their supply chains had been attacked by digital attacks in previous months.

Significant automotive consequences

One prominent car company experienced factory closures and was could not to build automobiles for an entire month, following a digital breach that required the business to turn off computer systems across several overseas operations.

The financial consequences of this month-long production shutdown at the United Kingdom's primary automotive employer has been projected at approximately 120 million pounds in missed earnings, or £1.7 billion in foregone income, according to expert assessment from a business economics academic.

Latest international incidents

In late September, a prominent Japanese brewing group became the latest business to be compelled to halt manufacturing at its domestic factories following a cyber-attack.

The corporation, which manages multiple production facilities in the Asian nation producing beer and other products, stated that its transaction handling functions, along with delivery systems and client support services, had been disrupted following a systems outage triggered by the digital intrusion.

Increasing connectivity produces risks

Companies are progressively assisted by other organizations. Have disappeared the era of thinking an organization as an entity operating in independence.

Recent major digital breaches have served as a important lesson to organizations to allocate resources to strong digital defences, to protect their own operations and maintain consumer trust, leading them to investigate how their logistics networks could become possible targets for digital attackers.