Supply chain risk is something the security community has been concerned about for some time. Companies and industries have been guilty of ignoring the risk or using ineffective safeguards. But the COVID-19 pandemic has exposed the vulnerabilities of organizations – particularly those with a dependence on China – and made them consider rethinking and transforming their supply chain model.
Because of its dominance, disruptions to business in China puts the entire global supply chain at risk. Deloitte says more than 200 of the Fortune Global 500 firms have a presence in Wuhan, the highly industrialized Chinese province where the outbreak originated. Today, the supply chain risk includes more than obtaining parts, and industry – as well as federal agencies – must also protect against harmful impacts to the IT, cyber and digital supply networks.
To help address supply chain risk, the National Institute of Standards and Technology (NIST) has developed a prototype tool developed to show a possible solution for filling the gap between an organization’s risk appetite and supply chain risk posture by providing a basic measurement of the potential impact of a cyber supply chain…
