Analyst Insight: As the concept of supply chain risk management matures into a discipline, we witnessed that most disciplines need frameworks to ensure initial success and sustainability. This is holding true for the growth and maturity of SCRM. The Association for Operations Management, or APICS, has embraced SCRM by working with the Risk Consortium to create a first-of-a-kind certificate in SCRM, providing a solid baseline for what a framework is and how it supports a successful supply chain journey. – Gregory L. Schlegel, Founder, The Supply Chain Risk Management Consortium, Adjunct Professor, Supply Chain Risk Management, Lehigh University, and Adjunct Professor, Enterprise Risk Management, Villanova University
Today's complex and connected supply chain translates into quick communication with partners. At the same time, it creates huge opportunity for data leakage and security issues that need to be addressed proactively in supply chain systems.
The Retail Industry Leaders Association has announced a partnership with the National Cyber-Forensics and Training Alliance (NCFTA) to enhance cybersecurity information sharing and expand retailers' proactive and vigilant approach to cyber threats to protect consumers against criminals.
Business interruption and supply chain risks remain atop a list of the major hazards drawing companies' attention this year, according to the recently released Allianz Risk Barometer, a survey of some 400 of the firm's corporate insurance experts from more than 30 countries. Insurers are starting to pay much more attention to supply chain when underwriting industrial risks, the global insurer says.
The U.S. Department of Defense has issued an interim rule allowing the agency to consider supply chain risk in certain procurements related to national security systems, citing an "urgent need" to protect such programs from sabotage.
The Defense Department may now officially exclude contractors or subcontractors from receiving information technology contracts based on the risk their supply chain poses to national security systems.
Companies will face next year emerging threats in cloud data storage that will demand security measures that go far beyond what is offered by service providers, a university report says.
The number of companies falling victim to fraud has increased in the past year, according to the 2013 Kroll Global Fraud Report. Overall, 70 percent of companies were affected by fraud in the past 12 months, up from 61 percent the previous year, and there was an increase in every category of fraud covered by the study.
Huawei, the Chinese telecom equipment maker that has been blocked from the U.S. market because of concerns about its alleged ties to China's government, is now pushing for global cybersecurity standards.