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Approximately 30% of company heads have witnessed a marked surge in online breaches targeting their supply chains during the previous half-year, as high-profile cyber breaches on well-known companies have highlighted this expanding threat to modern businesses.

Digital risks move up worry scales for supply chain executives

Cybersecurity threats have climbed the ranking of worries for supply chain executives at multiple companies globally across various sectors including production, utilities and IT, according to current sector analysis conducted in early autumn.

High-profile cyber incidents result in substantial financial losses

Latest digital intrusions at various prominent businesses have led to financial impacts of millions of pounds, transitioning digital security from being primarily the focus of digital security units to becoming a primary concern for corporate boards and top executives.

The character of global trade, how we view global supply chains and the technological logistics landscape are increasingly connected,

commented a leading sector leader.

Geopolitical elements intensify supply chain worries

Earlier this year, supply chain managers were notably concerned about geopolitical instability, including ongoing conflicts in multiple parts of the world, along with trade policies that affected international trade.

Nevertheless, cyber threats are now competing with geopolitical shocks and trade disagreements as the main risk for organizations of global business groups.

Survey reveals widespread effect

The survey found that almost one-third of directors reported that organizations within their logistics networks had been compromised by cyber incidents in recent months.

Major vehicle production effects

One prominent car company experienced factory closures and was found itself incapable to produce vehicles for a full month, following a cyber-attack that forced the company to shut down IT networks across several overseas operations.

The economic impact of this month-long factory closure at the United Kingdom's primary car manufacturer has been projected at approximately £120 million in foregone income, or 1.7 billion pounds in lost revenues, according to academic analysis from a corporate finance expert.

Recent global incidents

In late September, a major international drinks manufacturer became the newest business to be forced to halt manufacturing at its home country facilities following a security incident.

The organization, which manages numerous production facilities in its home country producing drinks and additional items, announced that its sales management systems, along with delivery systems and call center services, had been halted following a systems outage resulting from the digital intrusion.

Increasing connectivity produces vulnerabilities

Organizations are more and more enabled by other organizations. Have disappeared the times of viewing an business as an operation working in separation.

Current prominent digital breaches have functioned as a important lesson to companies to devote funding to robust cybersecurity measures, to safeguard their own operations and retain consumer trust, encouraging them to analyze how their distribution systems could become potential targets for hackers.