- Though corporations are improving in their methods of dealing with supply chain disruptions due to global risk, they still occur on a regular basis, Claims Journal reported on Thursday.
- Global risk within the supply chain can be categorized as natural, manmade and economic.
- The use of data helps mitigate loss and strengthen the supply chain, which may mean moving rerouting a delivery or swiftly moving stock from a storm-damaged warehouse to the nearest distribution center.
Of the three types of global risks inherent in business, the manmade variety bears a dangerous source of a supply chain disruption: cyber attacks.
Along with increased sharing of information between suppliers and the companies they support, cyber threats have grown in both frequency and intensity. Despite this increase, many organizations remain delinquent in deploying security measures to protect themselves and their valuable data. Most attackers target the mid-supply chain, wending through it until reaching their goal.
Often the disinclination to enact a strong cyber security system stems from complexity and expense. The potential cost of hiring a qualified security specialist to assess a company's level of risk, not to mention the employee training, the cost of a security platform, and the sheer staff hours involved, can appear prohibitive. However, the deliberate oblivion of improbability shields stakeholders from reality.