Many Businesses Fail to Identify Digital Security Risks in Supply Chains, Bruce Shibuya Explains
Supply chains are the backbone to many companies, small and large. When there is a problem with the supply chain, it impacts products going in and out. While some businesses focus on inventory security, they don’t look at the digital aspects. Bruce Shibuya, the Chief Operating Officer at Quanergy, explains why digital supply chain security is so important.
Bruce Shibuya explains that for any business to be successful today, they need to look at digital solutions to their supply chain. It is a strategic decision to have a cloud-based solution. It ensures that it’s possible to keep everything protected. Further, it can improve upon existing solutions.
Just as there are digital risks for any business, the same is true for a supply chain. Bruce Shibuya believes that the risk is worth it, especially when a business understands how to manage the risks. Knowing is a significant part of the battle.
In order to achieve operational efficiency, Bruce Shibuya recommends that a business do everything they can to prevent interruptions within the supply chain. As such, he identifies the various risks that can occur within a supply chain.
Bruce Shibuya explains that some of the greatest security risks include hacking data sensors, malware within the cloud, as well as insufficient password management. He also believes that it’s important for every business to take the time to vet the third-party vendors that he works with.
Particularly as businesses begin to benefit from the Internet of Things (IoT) where sensors are added to make it easier to conduct inventory, it is important to do research. Some devices are easier to hack into than others. Bruce Shibuya explains that this is when it can be beneficial to make a larger investment as a way to protect the supply chain’s integrity.
Businesses need to continuously stay up on the latest and greatest threats that exist, including the digital threats that are out there. Updating software and having virus protection is critical. Even the cloud host that a business chooses will impact the level of security that is in place. Bruce Shibuya suggests that it’s best to do some research to ensure the best cloud hosting and virus protection software is chosen.
When there are problems with the supply chain’s security, it can leave a significant amount of data vulnerable. It may be possible for hackers to see where data is kept by seeing what the sensors see. It may also be possible for hackers to see the various relationships in place. In some instances, hackers can even take over the supply chain.
Ultimately, Bruce Shibuya recommends that a business work with a professional to ensure they have the necessary digital security in place over their supply chain. It will lead to fewer interruptions and greater peace of mind throughout the operations.