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Cybersecurity Threats to Supply Chains in an IoT World

While we marvel at IoT technologies that have been implemented globally into the day-to-day operations of manufacturing and supply chain operations, we often quickly lose sight of the potential supply chain risks this tech adds to the equation.

* By Doug Reed, MHI Executive Vice President of Strategic Development *

While we marvel at internet of things (IoT) technologies that have been implemented globally into the day-to-day operations of manufacturing and supply chain operations, we often quickly lose sight of the potential supply chain risks this tech adds to the equation. Further, trading partners and suppliers can also create even more risks that many firms overlook.

Indeed, in a recent Deloitte poll, “Cyber risk: Maturity and ubiquity in the fourth industrial era,” 40% of professionals report that managing increasing amounts of data and IoT-connected device security pose the greatest cybersecurity challenges to their organization over the next 12 months. Respondents also identified third parties/extended enterprise (16.3%) and managing digital identities (13.5%) as the next largest challenges. Yet, only 14% report their organization’s cybersecurity program as mature, with cyber risk managed holistically across the enterprise.

So what IoT/cybersecurity risks should your organization be concerned about—both internally and externally? And what steps can be taken to mitigate those risks? To get the answers, MHI Solutions interviewed six experts in the field. Here is a synopsis of each of their insights.

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This issue of MHI Solutions focuses on the adoption of these and other digital solutions from best practices in robotics and artificial intelligence to getting your supply chain data house in order to measuring and tracking your Supply Chain Digital Consciousness Index or DCI. While implementing digital innovations into supply chains is complex, inaction is not a strategy. In fact, as the pace of supply chain innovation escalates, so does the price of inaction. In this new digital era, leaders will outpace their competitors faster than ever before

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