Logistics companies urged to increase security spend

Logistics companies must invest more in security and disaster response as attacks on supply chains, both physical and internet-based, will increase in the coming years, according to PricewaterhouseCoopers.

The professional services firm's Transport & Logistics' 2030: Securing the Supply Chain report contains responses from 80 executives across business, science and government asked to rate the likelihood of various outcomes on a scale of 0% to 100%.

Those quizzed believe there is a 56% probability of a rise in attacks on supply chains, with growing concern about the impact and cost of cyber attacks, not just natural and man-made disasters.

Klaus-Dieter Ruske, global transportation and logistics industry leader at PwC, says: "As a consequence of the increasing threat, the transportation and logistics companies' expenditure on security will broadly rise.

"Thus, capital investment on security, also on security of IT systems, will be one of the most important cost drivers of the logistics industry."