Project 5- Supply Chain Risk Analysis.docx - Supply Chain...

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Supply Chain Risk AnalysisUniversity of Maryland Global CampusKyrstin MurphyMarch 2, 2021
2Introduction:In the current market environment, businesses face continuous change within the supply sector and therisks associated with the operations of the business. Supply chain management involves theimplementation of strategies in the company to manage the everyday risks based on the continuous riskassessment approach along the supply chain. Any businesses operating in the distributions of goods andservices are faced with cybersecurity issues. In global supply chains, there are various cybersecurityrelated risks that affect the safety and quality of products and services distributed. While there are clearbenefits to a digital supply chain, digitalization allows leaders to access data faster and build strongerconnections, there are still many challenges that need to be overcame to use it to its full potential.Perhaps, none of these challenges is as critical as an organization's ability to successfully secure its supplychain data given the IT security risks posed by the Internet (Securing the supply Chain: Cybersecurityand the digital supply chain).There are many reasons as to why companies, businesses, or organizations should cooperate on a globalbasis to address cybersecurity related risks in global supply chains for products and services. Even withthe added complexity of managing production across various locations throughout different areas of theworld and managing each of those locations’ individual risks, a company needs to ensure risks at anypoint are secure. The need for collaboration and cooperation is critical to protecting our global, digitaleconomy (Collaboration is key to driving cyber supply chain risk management worldwide). Organizationsare interconnected, while providing many benefits it can also create connections that are usuallyprotected, vulnerable. Companies should cooperate on a global basis because this public-privatepartnership brings civilian and defense agencies together to develop meaningful recommendations toeffectively address risk across the cyber supply chain (Collaboration is key to driving cyber supply chainrisk management worldwide).Organizations must understand they must not only monitor and recognize cyber risks within theircompany’s security but they must also recognize the risks that can take place in their supply chain.Companies can be impacted by a cyber breach along points in their supply chain. One of the issues that acompany can face pertaining to supply chain risks is when integrating supply chains, it creates anopportunity for cyber criminals to infiltrate systems by way of the weakest link. Supply chains havebecome so extended that any event, whether natural disaster or taken down by a cyber-criminal, the wholechain is affected. Due to supply chains becoming so extended that a problem at any link in the chain cancause major disruption for multiple parties. A cyber breach along a supply chain can take a number of

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