Cyber Security Risks in the Supply Chain | Bray Solutions
The ever-growing transformation of the global supply chain comes with a significant risk to consider: cyber security.
Cyber security is a massive consideration in the warehouse industry, especially since technology is growing at a rapid pace. Innovations such as connections between the physical and the cloud, predictive analytics software, online shopping and data storage are quickly overtaking warehouse management, and they need to stay protected from potential hackers.
With advanced tech, comes more risk.
While the prospects of new software are incredible and hugely beneficial, we are quick to forget about the possible risks attached when we begin to rely on them so heavily. As a warehouse manager, you must plan to prevent cyber supply chain risks. Keep in mind that having a strategy in place across the entire supply chain is essential as more technology is implemented.
Too many helpers…
Did you know in 2017, 31% of organisations have experienced cyber attacks on operational technology infrastructure? (Cisco)
Cyber security is never merely a technology problem, people, processes and knowledge go hand in hand with the problem. The more heads involved in the process of the digital supply chain, the more the cyber world opens up to potential issues.
Not only does that include your internal teams, its suppliers, manufacturers, delivery staff, retailers and even traders. And, it’s not just the individuals in your internal supply chain management teams. The supply chain is made up of many individuals from across the globe, from unalike backgrounds, offering individual levels of technological knowledge.
Data breaches cost the UK 28 million in the first half of 2017; a statement too bold to ignore any longer! (*) Did you know that 53% of data security breaches are caused through acts of malicious intent, with 52% is account for by human error or system failure? (*)
70% of business respondents think that employees are the most significant risk to the business. (*) And who could blame them? It’s reported that a whopping 59% of employees steal proprietary corporate data when they quit or are fired.
Warehouses are quickly coming to terms with the fact that cybersecurity is not purely a tech issue. Effective cybersecurity is a people, process, and technology issue. It is critical to get cyber security embedded in how the overall company operates.
What are the key risks?
All of your company data associated with the supply chain is sensitive. Because of the sensitivity of the data related to the majority of supply chain operations, and there is a heavy dependence on ensuring complete collaboration/knowledge of secure practices. This is where many will fail, allowing third-party aspects to demonise their overall management of cyber security risks.
Critical risks according to NIST:
- Third party service providers or vendors — from janitorial services to software engineering — with physical or virtual access to information systems, software code, or IP.
- Poor information security practices by lower-tier suppliers.
- Compromised software or hardware purchased from suppliers.
- Software security vulnerabilities in supply chain management or supplier systems.
- Counterfeit hardware or hardware with embedded malware.
- Third party data storage
Here at Bray Solutions, we have a few processes that will help to prevent cyber attacks.
You should consider running risk assessments every few months to know what’s going on in your supply chain rather than waiting until something bad happens. Prevention is better than cure! The more you learn about what’s going on in your processes, the better. Warehouses should evaluate potential risks on a monthly, quarterly and annual basis.
Train your employees
As we mentioned above, it’s proven that employees are the biggest risk for companies dealing with cyber threats. Cyber security training needs occur regularly, not just once. You should also consider offering a variation of training methods, such as in person, or through blogging, whichever is prefered.
Tailor training depending on staff roles as you can make it practical and relevant for each person. Using previous mistakes as examples will back up your reasons behind the training process.
Teach your employees what good cyber practice looks like so they can practise in their personal life too. You need to provide a detailed plan to educate your staff. Some businesses will go as far as testing their employees through sending phishing emails to see if anyone clicks on the link. The employees who click are then required to take additional training. Practise makes perfect.
How does your company gain access to data, systems and facilities? How is access being monitored on an ongoing basis? When an employee leaves, how quickly is their access denied? What are the processes? Warehouses must consider how and whether they are asked about whether they are using multifactor authentication. Two-factor authentication comes in handy here. Remind staff to turn on two-factor authentication everywhere possible, including personal email and across social media platforms.
How are you going to prevent cyber security attacks? They can happen to the best of businesses, don’t forget. Bray Solutions take pride in keeping your business safe. Contact the team at Bray Solutions on 01780 784875 today for a secure 3PL service.
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