Supply chains are the glue that holds the global economy together. They’re also a significant source of cyber-related business risk. Attacks on suppliers surged by 431% between 2021 and 2024, and they’re expected to continue rising. That’s bad news for the enterprises they do business with. IBM estimates third-party vendor compromise is linked to among the highest data breach costs of any incident type: $4.9m per breach.
The challenge for risk and cyber leaders is that existing risk management mechanisms are imperfect. They can be slow, resource-intensive and full of blind spots. True supplier risk management comes from continuous oversight and control.
The unstoppable growth of supply chains
Complex, fragmented supply chains are the price we pay for global commerce. Over the past decade or more they have grown to support consumer demands for more choice and lower costs, driven by an explosion in online shopping. At the same time, digital supply chains have also undergone tremendous growth, thanks to the proliferation of software as a service (SaaS), managed service providers (MSPs) and business demands for more innovative, efficient ways of…
