News & Events
Why is supply chain security important?
- February 6, 2023
- Posted by: Raghav
- Category: Blogs
Getting clients what they need at the proper time, place, and price is the primary goal of supply chains. Data breaches, ransomware attacks, and malicious behavior from both insiders and outsiders can happen at any point in the supply chain. Negative operational, financial, and brand consequences may result from disruptions and hazards to the integrity of the delivered goods or services, the confidentiality of the data being shared, and the correctness of related transactions.
Main Supply Chain threats that generate the need for supply chain security training
- Financial Risks
Financial risks include revenue loss, contractor bankruptcy, business partner fines & penalties and compliance fines.
- Reputational Risks
Reputational loss includes loss of the brand’s good name, reputational damage among partners, and loss of trust among customers and investors.
- Legal Risks
Legal risks include legal disputes with suppliers, lawsuits and administrative penalties.
- Operational Risks
Operational risks include interruptions of business operations, supply chain disruptions and system breakdown.
- Cyber Security Risks
Cyber security risks include supply chain attacks, malicious insider activity and inadvertent threats.
Supply Chain Management certification best practices
- Supply Chain assessment
It’s critical to evaluate potential hazards before taking action to improve your supply chain’s security. Vendors can be categorised into various risk profiles, with each third party being given a priority based on their amount of susceptibility, influence on your company, and access to your systems and data. Supply chain analytics certification enables one to comprehend the supply chain and become familiar with its essential elements.
- Vulnerability mitigation and penetration testing
Fixing faulty database settings and weak password policies, getting rid of default passwords, and safeguarding endpoints and networks can reduce the risk immediately without disrupting operations.
- Digitisation and modernisation
It is challenging to secure data if you conduct business primarily over the phone, fax, or email. The aim is to digitise crucial manual procedures. The foundation for secure data transfer within the organisation and with clients and trading partners is laid by technological solutions that simplify transitioning away from manual, paper-based processes and add security, dependability, and governance to transactions.
- Data identification and encryption
The use of discovery and classification technologies to identify databases and files that contain protected customer information, financial data, and proprietary records should be part of data protection plans and regulations.
- Trust, transparency and provenance
With a blockchain platform, data cannot be altered after it is added to the ledger, making it easier to detect fraud, verify product provenance, and keep an eye on product quality. Materials and products can be tracked from their source to the final user or consumer by participants from various businesses.
- Third-party risk management
Organisations must broaden their concept of vendor risk management to encompass end-to-end security as links and interdependencies between businesses, and third parties increase throughout the supply chain ecosystem. This enables businesses to evaluate, enhance, monitor, and manage risk across the relationship.
- Incident response planning and orchestration
It is crucial to be proactive in preparing for a breach, shutdown, or disruption and have a robust incident response plan and response strategies that are well-rehearsed, tried, and simple to implement and stop revenue loss, reputational damage, and partner and customer turnover.
Since a system compromise could disrupt operations, businesses must put supply chain security management above all other concerns. The business ecosystem can be protected from both physical and digital threats using the best courses for the supply chain management. Supply chain security management can contribute to a more secure, effective flow of goods that can swiftly recover from interruptions, even though risks cannot be eradicated completely.
The ASIRS-CSCSS supply chain management online course uncovers a professional’s ability and aids in developing a solid organisational basis and a fulfilling career. Netrika provides the CSCSS certification course, which improves supply chain security and secures sensitive data or product transfer.