What We Can Learn From Toyota’s Cyber Crisis
Toyota is known to produce some of the world’s best and most reliable vehicles. This past Tuesday, Toyota had to shut down operations of all 14 production plants due to a cyber-attack on one of their suppliers, Kojima Industries.
Toyota was able to resume production this past Wednesday, March 2, 2020. Let us dive in and do a general analysis on the effects this had on Toyota.
According to BBC, Toyota’s factory closures will set Toyota back by about 13,000 cars!
On average, Toyota makes around $2,000 profit per vehicle. From a surface level, a 1-day closure may not seem bad. But when we look into the numbers, they say otherwise.
13,000 cars multiplied by $2,000 profit per vehicle = $26,000,000.00!
That is potentially $26 million dollars in lost production, due to one of their suppliers getting hit by a cyber-attack.
Business owners and executives need to make sure their business is properly protected to defend against cyber-attacks.
Here’s 3-Steps to make sure your business and operations is ready to defend against cyber-attacks and threats.
Work with a Professional
Partnering with professionals will give you the peace of mind to know that your business will be protected as best as possible. This also will save you time, money, and resources.
We recommend working with a managed service provider (MSP) as you will get the benefits of having an entire team of IT professionals making sure your business is properly monitored and protected.
If you want to work with our team of IT Professionals, you can book a quick 15-minute discovery call with us here – Schedule Discovery Call Online
Cyber Security Training
Having all the best protection in the world can protect you against most cyber-attacks. But the weakest link in any cyber defense plan are humans.
So, for step 2, we recommend training you and your staff on having good cyber hygiene.
Your managed service provider or MSP can implement all the best systems and technology in place to protect your business, but if you or a staff member unknowingly “allows” malicious software to run on your network – you could be compromised.
Reach out to your MSP to see what cyber training they can provide to you.
Vendors, Suppliers, and Partners
We recommend reaching out to your critical vendors, suppliers, and partners to check if they have the proper cyber protections and policies in place.
Toyota may have had a great cyber protection plan in place, but they still had to shut down their operations due to one of their suppliers getting hit by a cyber-attack costing them millions of dollars in lost production.
This can be as simple as connecting your Managed Service Provider (MSP) or IT Professional with your critical vendors, partners, and suppliers and having them check on their cyber security posture.
If you have any questions you can reach us here, or book a Discovery Call.