The security of supply chains is becoming an urgent issue for enterprises. In our complex, interlinked world, security is no longer about trying to put a moat around your own organization. You must consider the whole network of relationships that comprise modern supply chains.
What is changed?
To meet evolving customer and market expectations, Chief Supply Chain Officers have been creating intelligent supply chains, reconfiguring them for greater resilience, transparency and speed. In the process, traditional linear supply chains are being transformed into more flexible, more digital, more closely connected supply chain networks.
Modern enterprises have many more points of connection with the outside world than previously. And there is more data flowing through those connections than ever before. That provides essential business agility and speed. But it massively increases the risk profile, both in the size of the potential cybersecurity attack surface and in the flow of products and components through supply chains.
Time to think holistically about security
Understanding and mitigating the security risks of modern enterprise supply networks, recommends Chief Supply Chain Officers urgently rethink their supply chain security in a far more holistic way.
That means undertaking a supply chain transformation that makes security both in a physical and a cyber sense a core part of the strategy and embeds security principles all the way across the supply chain network. It also includes developing supply chain traceability solutions for improved visibility.
The result will be a more secure enterprise and more secure supply chain. But there are many other potential upsides consider the focus on customer-centricity. A potential for improved customer brand perception exists, if the business can prove its security credentials across its whole supply chain network, bolstering trust and transparency.
And there are regulatory implications too. In sectors like telecommunications, critical infrastructure, aerospace and defense, proving supply chain security is becoming a de facto standard for doing business. Other sectors may well follow.