The colonial pipeline has started delivering millions of gallons of fuel every hour after a recent cyberattack forced the company to shut down its network just over a week ago, according to CNBC.
The ransomware attack forced the company to shut down 5,500 miles of its fuel pipeline, causing shortages throughout the Southeastern United States. Widespread fuel shortages persist in several states. A U.S. official said Colonial Pipeline paid cybercriminals nearly $ 5 million in ransom, CNBC reported.
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Charles Clark, founder of digital risk management solution Darkbeam, said in an email that the Colonial Pipeline hack alerted procurement and supply chain professionals to the seriousness of cyber and digital threats. for suppliers and businesses. Clark developed a model for purchasing managers to assess monetary costs / exposure to negative digital events across categories and supply chains.
âOver the past 10 years, we have rapidly accelerated the digital transformation not only of our businesses, but also of our privacy and our homes. All of this incredible innovation has been developed on the Internet, which initially never thought about security. As a result, our security teams are in a relentless sprint to keep up with what is a hardware commitment for large businesses, but for small businesses it’s a significant challenge, âClark wrote in the email.
Proactis joins forces with the low-code platform Aurachain
Proactis, a provider of expense management solutions, has announced that it will begin use the Aurachain low-code platform.
Aurachain is known for its low-code platform that streamlines workflows and builds digital process applications. In a press release announcing the partnership, Proactis said it hopes to enhance its solutions portfolio with Aurachain. Aurachain’s platform can deliver and scale customer offerings faster than ever before, improve the customer’s user experience, and reduce the costs of maintaining its code base.
âThe Aurachain platform represents an exciting new set of possibilities for Proactis, as we seek to expand and improve our portfolio of market-leading international spend management solutions,â said Paul Massey, Chief Product Officer at Proactis, in a press release. âThe speed at which we can deploy new customer services while managing future cycles of change will result in increased agility and certainly increased value for our customers.
Strong US demand for timber drives competition for European timber
The frenzy comes as the industry faces record North American demand. Timber prices are hitting new highs almost daily, quadrupling from a year ago. Unprecedented rates were boosted by low borrowing rates, an increased market for large homes, and many do-it-yourself renovations during the pandemic.
Constant demand means American sawmills are unable to keep pace. Suppliers are looking to Europe for a reprieve as it is one of the few regions in the world to see a surplus, according to the article. Europe may sell faster than expected, although international shipping and US trucking are limiting some of the supply chain’s capabilities.
âEuropean producers will always look for the best markets. Right now it’s still the United States, âThomas Mende, CEO of Binderholz Timber Inc. in Georgia, told Bloomberg. “The Chinese have been more aggressive and are prepared to pay higher prices, as are Indian buyers.”
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