Tuesday, August 6, 2019

Word of the Day: supply chain security

Word of the Day WhatIs.com
Daily updates on the latest technology terms | August 6, 2019
supply chain security

Supply chain security is the part of supply chain management (SCM) that focuses on minimizing risk for supply chain, logistics and transportation management systems (TMS). The goal of supply chain security is to identify, assess and prioritize efforts to manage risk by layered defenses in an agile manner. This requires a multifaceted approach to protecting the checkpoints, assets and infrastructures involved with the production of a product. Supply chain security also takes into account the protocols set by government agencies, like homeland security or customs regulations for international supply chains.

The first step in supply chain security is to identify any potential weaknesses in a system. Overall organizational risk management practices should then be adjusted to accommodate and address those weaknesses. Collaboration with a 3PL provider can also help organizations find vulnerabilities and make improvements within a supply chain.

Examples of supply chain security activities

A few examples of security procedures that can be put into place to make supply chains more secure include:

  • Verifying proper credentials for all participants within a supply chain.
  • Screening all of the contents within a cargo that is being shipped.
  • Notifying recipients of shipments in advance.
  • Securing the cargo in transit or storage with the use of access controls, alarms, locks, surveillance or tamper-proof seals.
  • Inspecting cargo at each stage of the supply chain or shipment process.
  • Completing background checks on all employees.
  • Meeting all compliance and security standards.
  • Conducting regular risk assessments of supply chain segments, vendors and partners.
  • Training employees to identify and resolve supply chain security risks.

Importance of supply chain security

Supply chain security should be a high priority for organizations as a breach within the system could damage or disrupt operations. Vulnerabilities within a supply chain could lead to unnecessary costs, inefficient delivery schedules and a loss of intellectual property. Additionally, delivering products that have been tampered with or unauthorized could be harmful to customers and lead to unwanted lawsuits.

Security management systems can help protect supply chains from physical and cyber threats. Physical threats encompass risks with internal and external sources, such as theft, sabotage and terrorism, while cyber threats refer to vulnerabilities in IT and software systems, like malware attacks, piracy and unauthorized ERP access. While threats cannot be completely erased, supply chain security can work towards a more secure, efficient movement of goods that can recover rapidly from disruptions.

Quote of the Day

 
"Poor internal security procedures and a lack of compliance protocols -- especially for small suppliers -- can introduce cybersecurity threats into global supply chains." - Linda Rosencrance

Learning Center

 

Why is third-party risk management essential to cybersecurity?
Enterprises must protect their own networks, but third parties add new challenges for defense. ESG's Jon Oltsik explains what third-party risk management is and how to keep up with new developments.

How supply chain security has evolved over two decades
Supply chain security has long been an important part of overall enterprise security. And with recent headlines, it's back in the spotlight. Expert Ernie Hayden outlines everything you need to know about physical and cyber supply chain security.

Supply chain software poses security risks
Enterprise supply chain software can introduce information security risks to companies, particularly those relying on third-party vendors without having the proper controls in place.

Tips for preventing supply chain attacks
Companies can prevent supply chain attacks by implementing a number of cybersecurity best practices, including performing security assessments and validations to build trust between managers and third-party vendors.

The essential guide to supply chain management best practices
Supply chain management best practices are about the essentials: collaboration, strategy and technology. This guide provides insights into a successful omnichannel approach, supply chain visibility and sustainability, along with the sophisticated tools and technologies needed to achieve those goals.

Quiz Yourself

 
Supply chain visibility can help manufacturers in managing _______ periods of inbound and outbound activity.
A. peak
B. peek
C. pique

Answer

Stay in Touch

 
For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com

Visit the Word of the Day Archives and catch up on what you've missed!

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