Supply Chain Security
The Forefront of Your Risk Management Strategy
Stay Safe in a World in Flux with Supply Chain Security
The digital transformations occurring across organizations are creating a corresponding risk renaissance that is becoming increasingly complex and expansive. Business risk and IT concerns are now more intertwined than ever, with the cloud playing a central role and customer interactions happening through a variety of channels.
In this evolving landscape, organizations are grappling with three critical challenges:
Lack of Risk/Data Governance
Many organizations find it difficult to understand where their data resides, how it is protected, who has access to it, and how to maintain secure footing amidst these uncertainties.
Volume and Velocity of Change
The challenges of inadequate risk/data governance are compounded by the rapid changes introduced by cloud technologies (such as data migration) and the proliferation of IoT devices. These factors increase the time required to adapt, thereby elevating your risk profile
Difficulty Articulating Health
Effectively communicating the state of your security posture can be challenging, even for seasoned security teams. It’s crucial to translate technical details into terms that are comprehensible for business leaders who may not have a tech background.
Amidst these challenges, it’s essential to remember that Visibily can provide the necessary people, processes, and technology to effectively manage your risk and compliance needs.
What is Supply Chain Security?
As organizations increasingly rely on third-party vendors and partners, ensuring the security of these relationships becomes crucial. A comprehensive supply chain security strategy combines traditional supply chain management practices with security measures to address potential vulnerabilities
Supply chain security refers to the practices and measures implemented to protect the integrity and security of the supply chain, which encompasses the entire process of producing and delivering goods from suppliers to customers. This area of management focuses on identifying, analyzing, and mitigating risks associated with external suppliers, vendors, logistics, and transportation.
The primary goal of supply chain security is to safeguard against various threats, including theft, sabotage, terrorism, and cybersecurity risks.
Why is Supply Chain Security Important?
Supply chains are typically designed for efficiency, often sidelining security, transparency, and resilience. This can lead to vulnerabilities in solutions that could be exploited, resulting in breaches or data disruptions. A single breach can incur substantial fines, lost revenue, and a tarnished brand image that may take years to recover from.
A comprehensive TPRM program enables quicker identification and response to threats, ultimately reducing costs both proactively and in the event of a breach.
Use Visibily’s Supply Chain Security Framework to Defend Your Extended Ecosystem
Third-party risk management involves establishing a rigorous monitoring and reporting system based on analytics and a continuously updated database of services and vendors tailored to your business needs. Visibily's Supply Chain Security Services equip you to defend your extended ecosystem.
With Visibily, you gain the tools, expertise, and guidance necessary to assess and mitigate risks associated with relationships, business profiles, and controls.
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