While every business wants to harness the speed to market that new supply chain technology can offer, they are also opening themselves up to malicious cyber-attack if they don’t take the right precautions.
Customers of today are connected, informed and empowered, and continually demand more choice of product, greater flexibility in delivery options and faster service from the businesses that they deal with. These expectations, combined with rapidly changing business models and channels to market, are putting previously unseen pressure on supply chains to be agile, flexible and adaptable to customer demand signals. As a result, organisations are making significant supply chain technology investments but are they secure?
Some of the most hyped supply chain technology enabled improvements include:
Cyber criminals and hackers are always looking for the easiest route into an organisation’s systems and data. The shortest way is often not through the front door, but through the ‘weaker links’ that make up a digitally enabled supply chain.
Organisations that understand and manage the breadth of their interconnected supply chains and their points of vulnerability and weaknesses are better placed to prevent and manage issues. Key issues include:
Importantly as of the 22 February 2018 there will be increased legislative requirements for organisations to report data breaches. The Privacy Amendment (Notifiable Data Breaches) Act 2017 established a Notifiable Data Breaches (NDB) scheme in Australia. From 22 February 2018, data breach notification will become mandatory for all entities required to comply with the Australian Privacy Act. By some estimates 44 percent of Australian business are not fully prepared for these changes.
The right approach to cyber security enables an organisation to embrace change, seek out new markets, and invest in transformational opportunities.
Supply chain risks – from cyber attack to compliance – could severely damage an organisation. This series explores how to get on the front foot.
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