This holiday season, it is essential that the retailers invest in the security of the supply chain management to decrease the risk of data breaches and reputation damage due to the cyber criminals.
FREMONT, CA: Holiday seasons can increase the cyber risks for the retailers as hackers try to take advantage of the immense surge of online shoppers and in-stores. Therefore, they must remember that it is not only about their network but the entire supply chain starting from shipping distributors and production partners to point-of-sale technologies and beyond. So, it is vital to protect the cyber system from hackers.
A cyber issue in the supply chain can disturb the entire operations for the retailers and can cause harm to the reputation of the brand, financial performance, and regulatory repercussions. Here are some of the crucial steps that can be taken to lessen down the cyber risk of the supply chain during festive seasons.
Inventory Your Supply Chain
Today business is dependent on the vendors that have access to the network for conducting several vital companies. The adoption of cloud and outsourcing across the retail organizations are increasing rapidly, so it has become essential to keep an update of the catalog of the third parties and service provider in the digital or brick-and-mortar supply chain along with their network access point. The supply system can be massive, but security issues can impact the organization.
The inventory of vendors permits the security teams to track how cybercriminals can exploit and improve the response time of it.
Take Control of Your Third-Party Accounts
Retailers must make sure each vendor has an email account and credentials associated and managed by the retailer and not by the supplier organization. With this step, the retailer can be sure that they are the first point of notification if any incident occurs and when it occurs. Therefore, the retailer can be in control of the entire remediation process.
Assess Your Suppliers’ Security Posture
The supplier’s security posture may not indicate that the products and services have security flaws, but in the cyber world, poor security performance can lead to vulnerability and risk.
Therefore it is better to have clear visibility of the performance of cybersecurity that will help the retailers to point out the security vulnerabilities speeding up the communication and the actions regarding security concerns.