8 Strategies to reduce supply chain risk
8 Strategies to reduce supply chain risk
A substantial trend toward spreading supply chains across international boundaries has emerged in the last 20 years. As a result of globalization, there are other supply chain risks that go beyond cyberattacks and show the need for increased operational resilience.
The point is that an organization’s supply chain grows more appealing to attackers the less secure it is. Attackers are looking for the simplest way into a network, therefore frequently the supplier has a weakness that may be used to get complete access into the network of the original target.
A corporation has little chance of defending against nation-states or more capable threat actors if it does not secure its own network from basic threat actors, take the necessary precautions to correctly patch, and keep its suppliers responsible for safeguarding their own networks. This is where third-party testing comes in handy to trust and verify your vendors.
Firmware content and the presence of fake hardware components must be known by organizations. What they cannot trust, such as components from a third party, must be verified. Even if you have trust in a vendor, a compromise farther up the supply chain is always a possibility. Instead of only concentrating on one risk to manage, take a comprehensive look at the entire supply chain and try to discover the weakest connections to counteract this.
The following 8 stages can be used to create a supply chain security program:
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Know your suppliers and consider both upstream and downstream options: After identifying tier two suppliers and others, start with your tier one suppliers. Make a thorough inventory of all the people you do business with to find any weak points.
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Perform risk analysis: Once you’ve determined who all your partners are, thoroughly evaluate each one’s cybersecurity posture so you can understand the threats they could provide to your company. You must consider the specific location and builder of each device or component. Does a potential backdoor or fake part exist? Or a breach only be caused by problems with software quality that are more likely to occur?
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Use third-party testing: Engage a company to test your systems and the systems of your suppliers so that you can get clear results on what must be fixed first.
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Patch and scan all susceptible systems on a regular basis.
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Inform staff members of the value of adopting secure passwords: Additionally, instruct them not to reuse passwords on other accounts.
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Ensure that multi-factor authentication has been configured everywhere possible by your team.
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Regularly hold security awareness training sessions for staff members, teaching them how to spot phishing schemes, update software, and generally be more security conscious.
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Boost the device connections to your network’s security.
Developing resiliency
Consider all potential disruptions and approaches to construct and design your supply chain to maintain it in the face of foreseen and unforeseen difficulties. A far more robust and high-integrity supply chain will be established if the suppliers you work with directly are expected to have a supply chain security program and they demand the same of their suppliers.
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AMG Logistics is a Lagos-based TRACE certified logistics company. Our services include Freight Forwarding, Customs Clearance, Trucking, Distribution, and Warehousing within Nigeria.
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