At present, security leaders must practice greater resilience and evolve strategies to protect an expanding digital footprint against emerging threats. Additionally,digital supply chain risks demand new mitigation approaches that involve more deliberate risk-based vendor/partner segmentation and scoring, requests for evidence of security controls and secure best practices. More like protecting a physical supply chain, one key best practice is shifting to resilience-based thinking by assessing critical infrastructure and having a Plan B so a company can keep operating.
A lot of firms responded to the pandemic’s supply chain disruptions with accelerated adoption of 'Supply Chain 4.0', the digital supply chain. Fundamentally, a digital supply chain refers to leveraging advanced technologies and capabilities, such as sensors, robotics, automation and predictive analytics, to improve transparency and communications throughout the supply chain. Hence, this interconnectivity among multiple tiers of supply chain partners typically improves the efficiency and resiliency of the flow of products, information and capital across the end-to-end supply chain. Evidently, the digital supply chain has been a welcome solution to 2020’s challenges. Yet, like so many quickly implemented responses, it has also added layers of new risks.
There is no doubt that identity threat detection and response is among one of the top security and risk management trends for 2022. Interestingly, organizations have spent considerable effort improving IAM capabilities, but much of it has been focused on technology to improve user authentication, which actually increases the attack surface for a foundational part of the cybersecurity infrastructure. Therefore, ITDR tools can help protect identity systems, detect when they are compromised and enable efficient remediation.
In the existing business environment, companies need to be aware of the growing challenges the digital supply chain presents to avoid the risk of a costly disruption in operations. So, in the world of supply chain risk management, the chaos of 2020 has accentuated the necessity of fully digitizing global supply chain operations. The previous year demonstrated that increasing connectivity and data sharing across supply chain entities through the widespread use of sensors and networks prepares supply chains to withstand future disruptions.
Nevertheless, the growing connectivity of a supply chain also opens the door to increased cyber and data privacy risks. Risks like these arise because increasing interconnection means a ballooning attack surface and additional vulnerabilities that adverse actors can exploit. Correspondingly, companies carefully tending to their own cyber security maturity is no longer sufficient. Therefore, companies and their shareholders must increasingly monitor the cyber hygiene of their supply chain partners as well.
Group Futurista is glad to present to you the opportunity to learn more about Digital Supply Chain Risk and the benefits it can entail for your business by joining the 'Future of Digital Supply Chain Risk for Businesses' virtual summit with revolutionary keynotes, case studies, and an amazing selection of industry-leading speakers who will come together to share their valuable insights.
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