How a resilient supply chain reduces cyberattack risk

BACK TO ALL NEWS

How a resilient supply chain reduces cyberattack risk

31 Oct 2024

Mari Rydings

Mari Rydings is a versatile content creator, editor and marketer with experience developing dynamic, results-driven materials for B2B and B2C audiences. As the editorial director for Avant Food Media, she leads the day-to-day editorial operations for the company’s print and digital magazines, newsletters and social media platforms. Outside of work, she loves reading, hiking, putting together jigsaw puzzles and spending time with her husband and their twin daughters.

CLAREMONT, CA – With cyberattacks and security threats on the rise, it’s more important than ever for manufacturers and supply chain leaders to address vulnerabilities in their supply chains to reduce their risk of disruption.

“Supply chains today are deeply interconnected through ERP systems, IoT devices and extensive networks of suppliers, contractors and service providers,” said Lisa Anderson, president of LMA Consulting Group and a leader in manufacturing and supply chain strategy. “A single weak link can expose the entire supply chain to significant risks, which is why it’s crucial for companies to proactively assess and secure their end-to-end operations.”

Supply chain blind spots don’t just impact direct suppliers; they also affect secondary and tertiary suppliers and third-party logistics providers, among others. Anderson shared that a thorough understanding of all parties involved is essential to identifying weaknesses and mitigating potential threats.

“Executives must understand not only their own suppliers but also their suppliers’ suppliers, related security protocols and any geographic or political risks,” she said. “By prioritizing risks and proactively addressing them, companies can better protect their operations, ensure business continuity and focus on profitable growth.”

“By prioritizing risks and proactively addressing them, companies can better protect their operations, ensure business continuity and focus on profitable growth.” — Lisa Anderson | president | LMA Consulting Group

Shoring up supply chain vulnerabilities, however, goes beyond assessments. Anderson recommends taking strategic actions to build supply chain resilience. Such actions could include expanding manufacturing; reshoring; friendshoring; vertical integration; and implementing a robust Sales, Inventory and Operations Planning (SIOP) process that provides a proactive framework to address supply chain vulnerabilities.

“The smart money is on taking control of your supply chain,” Anderson noted. “We’re seeing proactive clients move manufacturing closer to home, improve process efficiencies and formalize partnerships with key suppliers to maintain stability in an unpredictable landscape.”

For more information on how to build a resilient supply chain, download LMA Consulting’s recent report, “FutureScape: Crafting Tomorrow’s Supply Chain Today.”

Advertisement

BACK TO ALL NEWS