Supply Chain Cyber Attacks: How Prepared Are You?

Norwegian aluminum maker Norsk Hydro was the latest company to fall victim to a cyber attack. On March 19 the company “halted some of its production and switched other units to manual operation after hackers blocked its systems with ransomware,” as reported by Reuters.

After several weeks of running operations in manual mode, the company reported last week that “most operations are back to normal or near normal levels. The cyber attack has, however, caused delays to certain administrative processes, including systems for reporting, billing and invoicing.”

According to the article, Norsk Hydro “has given a preliminary estimate of the financial impact of the attack during the first week at between 300 million Norwegian crowns ($35 million) and 350 million.”

As the number and severity of cyber attacks continue to rise, what actions are you taking to minimize the risk of a cyber attack on your supply chain?

For related commentary, see The WannaCry Cyberattack: Another Warning for Supply Chain Executives and The Day a Cyber Attack Brings the World’s Supply Chains to a Halt