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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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Leading manufacturing and supply chain executives agree that technology is the key to future success. As they digitize their supply chains they are generating more data than ever before, giving them the power to leverage that data to see their businesses in new ways and to make better decisions. These early adopters are creating real and measurable competitive advantage. When it comes to technology investment start small but think big. Build on your successes and learn from your failures. By investing wisely, you’ll create additional value in your supply chain and widen your advantage over the competition.

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