6 Best Practices to Tackle Supply Chain Security Threats
How do you combat these concerns? Let’s consider six measures you can use.
Supply Chain Security Strategy Assessments
The first step to addressing supply chain security issues is to take a look at the strategy you’re already using. When judging your supply chain security, consider these factors:
1. Industry standards and government rules
2. Your business’s security risk qualification
3. Current and future programs
4. The quality of your education and training.
In the end, regular assessments are crucial to help you improve how your group manages problems.
The first step to addressing supply chain security issues is to take a look at the strategy you’re already using. When judging your supply chain security, consider these factors:
1. Industry standards and government rules
2. Your business’s security risk qualification
3. Current and future programs
4. The quality of your education and training.
In the end, regular assessments are crucial to help you improve how your group manages problems.
Vulnerability Mitigation and Penetration Testing
You can catch low-level security vulnerabilities early through penetration testing and scans. Also, you can use the outcome of your tests to fix issues, such as:
a) Repairing vulnerable database configurations
b) Updating poor password policies
c) Securing networks and endpoints.
These quick wins will reduce your risk exposure without making your work less productive or adding downtime. After taking care of the basics, hire pen testing experts to help you spot advanced threats in your supply chain security systems.
You can catch low-level security vulnerabilities early through penetration testing and scans. Also, you can use the outcome of your tests to fix issues, such as:
a) Repairing vulnerable database configurations
b) Updating poor password policies
c) Securing networks and endpoints.
These quick wins will reduce your risk exposure without making your work less productive or adding downtime. After taking care of the basics, hire pen testing experts to help you spot advanced threats in your supply chain security systems.
Digital Change for Supply Chain Security
Switching from legacy processes and tech like fax, phone and email is a gradual transition — but a vital one. By moving to modern systems, your company sets up secure data movement within your group and with external trading partners, suppliers and customers.
Bringing software and processes up to date gives you access to data security mechanisms, like:
1. Encryption
Switching from legacy processes and tech like fax, phone and email is a gradual transition — but a vital one. By moving to modern systems, your company sets up secure data movement within your group and with external trading partners, suppliers and customers.
Bringing software and processes up to date gives you access to data security mechanisms, like:
1. Encryption
2. Tokenization
3. File access monitors and alerts
4. Data loss prevention.
With the whole company focused on digital growth, you can train teams on fraud prevention and increase cybersecurity risk assessment and awareness across your network.
3. File access monitors and alerts
4. Data loss prevention.
With the whole company focused on digital growth, you can train teams on fraud prevention and increase cybersecurity risk assessment and awareness across your network.
Data Identification and Encryption
The National Institute of Standards and Technology (NIST) advises companies to develop defenses based on the belief that a breach is bound to happen. Therefore, it’s essential to cover all types of data you store or transmit. You can use discovery tools to find and classify files containing proprietary records, financial data or sensitive customer information. With this holistic overview of all your data, you should apply modern encryption policies to protect valuable assets.
As businesses continue to rely more on online transactions, you can bolster supply chain security with advanced controls like digital signatures, session breaks and multifactor authentication.
The National Institute of Standards and Technology (NIST) advises companies to develop defenses based on the belief that a breach is bound to happen. Therefore, it’s essential to cover all types of data you store or transmit. You can use discovery tools to find and classify files containing proprietary records, financial data or sensitive customer information. With this holistic overview of all your data, you should apply modern encryption policies to protect valuable assets.
As businesses continue to rely more on online transactions, you can bolster supply chain security with advanced controls like digital signatures, session breaks and multifactor authentication.
Third-Party Risk Management
More and more companies in the supply chain work together to store, transmit and use data. This calls for expanded risk management, including end-to-end protection.
Effective third-party risk management starts with risk assessment shared between stakeholders. You must break down silos between your technical and business teams and bring in your vendors and partners. By coming together, you can secure the most critical assets in the supply chain. Next, you can pinpoint potential operational damage. This might result from poor data monitoring, compliance violations or a publicized data breach.
More and more companies in the supply chain work together to store, transmit and use data. This calls for expanded risk management, including end-to-end protection.
Effective third-party risk management starts with risk assessment shared between stakeholders. You must break down silos between your technical and business teams and bring in your vendors and partners. By coming together, you can secure the most critical assets in the supply chain. Next, you can pinpoint potential operational damage. This might result from poor data monitoring, compliance violations or a publicized data breach.
Incident Response Planning
Set up incident response plans to fully prepare for the worst. With a strategy in place, you can orchestrate a response when attacks, shutdowns or disruptions happen. It will also help avoid or minimize customer churn, data loss and reputation damage.
By gathering intelligence and planning for disruptions, you equip your team and partners with the information they need to prevent those events in the first place.
Set up incident response plans to fully prepare for the worst. With a strategy in place, you can orchestrate a response when attacks, shutdowns or disruptions happen. It will also help avoid or minimize customer churn, data loss and reputation damage.
By gathering intelligence and planning for disruptions, you equip your team and partners with the information they need to prevent those events in the first place.
Teamwork Is Vital for Stronger Supply Chain Security
As compliance regulations and political upheavals like Brexit and the U.S.-China trade war rumble on, cyber criminals have advanced tools at their disposal. Both factors combining mean digital assets are worth more than ever before.
Supply chain security requires a multifaceted team effort that starts with you and extends to include your entire network of partners and vendors. Only by checking every touchpoint, process and party involved can your company protect your infrastructure and data well.
Focus on an inclusive, engaging approach to nurture a culture of cybersecurity awareness in your employees. In doing so, you can get buy-in from all levels in the company and build the foundation that keeps your supply chain safe.
As compliance regulations and political upheavals like Brexit and the U.S.-China trade war rumble on, cyber criminals have advanced tools at their disposal. Both factors combining mean digital assets are worth more than ever before.
Supply chain security requires a multifaceted team effort that starts with you and extends to include your entire network of partners and vendors. Only by checking every touchpoint, process and party involved can your company protect your infrastructure and data well.
Focus on an inclusive, engaging approach to nurture a culture of cybersecurity awareness in your employees. In doing so, you can get buy-in from all levels in the company and build the foundation that keeps your supply chain safe.
Source: Security Intelligence News
