Strengthening Cyber Resilience Through Supplier Management
Recent data shows third-party and supply chain breaches — including software supply chain attacks — now cost an average of $4.91 million per incident, and take 267 days to resolve. This isn’t surprising, considering how vendor usage has evolved over the last several years. Many businesses manage sprawling networks of suppliers, each with their own technology partners, security protocols and potential vulnerabilities. A weakness in any part of this extended armor can expose an entire organization to devastating breaches. But there are actionable steps organizations can take to regain visibility over their supplier ecosystems and proactively manage related cyber risk. Overall, supply chain and procurement professionals should implement rigorous vetting criteria for supplier partners, in order to maintain oversight of what systems and software connect to their network. The first step is to ensure suppliers follow established cybersecurity standards, includin...