NEW YORK, September 19, 2023 /PRNewswire/ — Of more than 1,000 C-suite and other executives, nearly half (44.9%) expect an increase in the number and scale of cyber events targeting their organization’s supply chains over the coming year, depending on a new Deloitte survey. The expected increase appears to indicate greater concerns for the future, as only 33.8% of respondents say their organization has experienced one or more supply chain cybersecurity events during the year elapsed.
“While negative cyber events, like any business interruption, can be the most powerful catalyst for improvement, we see leading organizations working to develop more proactive capabilities to detect and mitigate potential cyber threats in their supply chains “, said Sharon ChandA Deloitte Risks & Financial advice Principal and Cyber Risk Secure Supply Chain Leader, Deloitte & Touche LLP. “It’s not a simple task, but aiming for greater supply chain visibility and better management of third-party cyber risks can help strengthen and accelerate organizations’ recovery and resilience after an incident . »
Part of improving supply chain visibility can include third-party risk assessments. While nearly half of organizations surveyed conduct third-party risk assessments before bringing on a new vendor (46.5%), only 29.1% of this group also repeat these assessments at least annually. Unfortunately, 20.9% of respondents say their organization does not conduct third-party risk assessments to support broader supply chain security.
Chand continues: “Third-party risk assessments can range from conducting investigations into the practices of these entities to requesting software bill of materials (SBOM) for larger product components. But to request such things from your third parties, you must have “
About the online survey
More than 1,020 executives and other leaders were surveyed in a recent webcast titled “Supply Chain Security: Building Resilience and Mitigating Risk,” on June 20, 2023. Response rates differed depending on the question.
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