Supply Chain Security (2024)

FAQs

What are the elements of supply chain security? ›

What is ISO 28000 - 2022. ISO 28000 focuses on aspects critical to manage and assure security risks. This may include financing, manufacturing, information management and transportation, in-transit storage and warehousing of goods.

Supply chain security is management of the supply chain that focuses on risk management of external suppliers, vendors, logistics, and transportation. It identifies, analyzes, and mitigates risks associated with working with outside organizations as part of your supply chain.

There are multiple ways to exploit Inadequate Supply Chain vulnerability for example- an insider threat agent or an attacker can inject malicious code during the development phase of the app, then they can compromise the app signing keys or certificates to sign malicious code as trusted.

Supply chain security is crucial as it reduces risks to both internal and external sources across supply chains or value chains, such as terrorism, piracy and theft.

Security configuration management (SCM) is the process of managing the configurations of your information system assets and software, including monitoring for misconfigurations to help prevent cyberattacks and enforce compliance regulations.

The National Strategy for Global Supply Chain Security (Strategy), released in January 2012, establishes the United States Government's policy to strengthen the global supply chain to protect the welfare and interests of the American people and to enhance our Nation's economic prosperity.

How to mitigate risk in supply chain? ›

Mitigating supply chain risks involves diversifying supplier bases, adjusting inventory management strategies, considering scenario planning, and building strong supplier relationships to enhance resilience and minimize disruptions.

If your supplier is breached, your trade secrets are at risk. So protect your business by establishing control and minimising your exposure at every stage of the relationship, with every supplier. Protected Procurement helps you to defend your organisation from supply chain security threats.

A supply chain attack refers to when someone uses an outside provider or partner that has access to your data and systems to infiltrate your digital infrastructure.

A supply chain includes all the raw materials and parts that are made into a product and distributed up the chain for manufacture and sale. In contrast, a value chain encompasses all the individual steps that are taken to create a marketable product.

With all the above elements of supply chain management in place, proper planning and innovation are the game changers for an organisation. Innovation may be applied to any or all four elements: integration, operations, purchasing, and distribution.

The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return.

Generally the key aspects of Supply Chain management are Purchasing (sourcing), Planning (scheduling) and Logistics (delivery). Sometimes logistics is separate, and procurement may be included with Purchasing, depending upon how location specific the procurement activities are.