Cyberattacks and New Regulations Top Supply Chain Resilience Report

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IT and telecommunications outages; cyber attacks; and loss of skilled employees are the top three causes of supply chain disruption, according to the Business Continuity Institute (BCI)’s Supply Chain Resilience Report.

The report found that a majority of enterprises do not have full visibility of their supply chains and have experienced at least one disruption.

Unplanned IT or telecommunications outages rank at the top of supply chain disruptions, at 48%, causing customer complaints, brand reputation damage, loss of productivity, loss of revenue and stakeholder concern.

When asked about the top potential disruptions for the next 12 months, survey respondents indicated concern over cyberattacks and data breaches (60%) and IT and telecommunications outages (59%). Terrorism and incidents related to product quality and health and safety also ranked among the top 10.

The top potential disruptions for the next 12 months to the next five years include cyber attacks and data breaches, followed by new laws and regulations.

According to the report, the top causes of disruption for regions, countries and industries, include:

Regions

Europe: Unplanned IT or telecommunications outages; loss of talent/skills; cyber attacks and data breaches; outsourcer failure; and adverse weather.
North America: unplanned IT or telecommunications outages; cyber attacks and data breaches; adverse weather; outsourcer failure; and loss of talent/skills.
Asia: unplanned IT or telecommunications outages; loss of talent/skills; transport network disruptions; new laws or regulations; and product quality incidents.
Sub-Saharan Africa: unplanned IT or telecommunications outages; loss of talent/skills; currency exchange rate volatility; outsourcer failure; and energy scarcity.

Countries

U.S.: Unplanned IT or telecommunications outages; cyber attacks and data breaches; adverse weather; outsourcer failure; and loss of talent/skills.
U.K.: unplanned IT or telecommunications outages; outsourcer failure; insolvency in the supply chain; loss of talent/skills; and cyber attacks and data breaches.
India: unplanned IT or telecommunications outages; loss of talent/skills; transport network disruptions; new laws or regulations; and outsourcer failure.

Industries

Manufacturing: outsourcer failure; product quality incidents; transport network disruptions; loss of talent/skills; and insolvency in the supply chain.
Financial and insurance services: Unplanned IT or telecommunications outages; cyber attacks and data breaches; loss of talent/skills; outsourcer failure; and adverse weather.
IT and communications: Unplanned IT or telecommunications outages; cyber attacks and data breaches; loss of talent/skills; outsourcer failure; and new laws and regulations.

https://www.thebci.org/news/bci-supply-chain-resilience-report-2017.html

ON DEMAND: Business-impacting events such as severe weather, man-made disasters, and supply chain disruption are increasing in frequency and making impacts around the globe.

In today's rapidly evolving security landscape, organizations face an ever-growing array of disruptive events, security threats and risks. Traditional reactive approaches to security intelligence often leave businesses vulnerable and ill-prepared to anticipate and mitigate emerging threats that could impact the safety of their people, facilities or operations.