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Approximately one-third of business executives have reported a marked increase in online breaches targeting their supply chains during the past six months, as high-profile cyber breaches on prominent businesses have emphasized this growing risk to today's organizations.

Cyber threats climb priority lists for procurement managers

Cybersecurity threats have climbed the hierarchy of concerns for purchasing directors at multiple organizations internationally across multiple business fields including manufacturing, energy and technology, according to recent sector analysis carried out in early autumn.

High-profile security breaches lead to considerable monetary impacts

Latest digital intrusions at various well-known businesses have led to financial impacts of substantial sums of currency, transitioning online protection from being mainly the responsibility of technology teams to becoming a primary preoccupation for corporate boards and senior leaders.

The essence of international commerce, how we consider global supply chains and the online distribution framework are increasingly connected,

stated a senior sector leader.

Global considerations intensify supply chain anxieties

Earlier this year, procurement executives were notably concerned about global conflicts, including ongoing conflicts in several regions, along with commercial regulations that weighed on international trade.

Nevertheless, digital security risks are now matching international conflicts and tariff disputes as the most significant risk for participants of international trade associations.

Study indicates extensive impact

The research discovered that 29% of managers reported that organizations within their logistics networks had been compromised by cyber incidents in the past few months.

Substantial car manufacturing impact

An important vehicle producer experienced production shutdowns and was unable to manufacture cars for an entire month, following a digital breach that forced the company to turn off digital infrastructure across multiple international locations.

The financial consequences of this four-week manufacturing halt at Britain's largest car manufacturer has been calculated at approximately 120 million pounds in foregone income, or £1.7 billion in foregone income, according to expert assessment from a business economics academic.

Latest international cases

More recently, a well-known international drinks manufacturer became the most recent organization to be required to stop production at its home country facilities following a cyber-attack.

The organization, which manages numerous production facilities in its home country producing alcoholic beverages and additional items, stated that its sales management systems, along with distribution activities and call center functions, had been interrupted following a network disruption caused by the security breach.

Increasing integration produces weaknesses

Organizations are progressively supported by external entities. Gone are the days of considering an company as an operation working in isolation.

Latest major cyber-attacks have served as a clear warning to businesses to allocate resources to comprehensive digital defences, to secure their business activities and preserve consumer trust, leading them to analyze how their supply chains could become likely focus points for cyber criminals.