The cost of weak links in supply chains is too high to ignore. As part of the company’s IT Security, businesses must consider what to do if things went wrong in your supply chain? It is essential that companies realise the importance of security and work together to keep the supply chain secure.
The supply chain is the system of organisations, people, technology, activities, information and other resources involved in moving a product or service from a supplier to their customer. The National IP Crime Group has created a supply chain toolkit to help make people more aware of the growing risk from counterfeit goods getting into business supply chains – it also gives guidance on how to strengthen and protect your intellectual property (IP) assets.
Security and efficiency can reduce costs
While it is mainly aimed at SMEs, other large businesses will also find the information useful. It takes readers through a step-by-step process to help them avoid problems. The steps cover areas relating to products, protecting rights, ensuring partnerships and making sure employees and associates have a universal respect for IP. There is also advice on what to do when things go wrong. We have included three examples covering different types of businesses and their role in the supply chain.
As counterfeiters and pirates look for new ways to expand their illegal businesses, the security of business supply chains becomes increasingly important. Businesses must respond by using best practice to manage their communications and transactions efficiently. Investing in greater vigilance in supply chains offers more security, better efficiency, safer markets and can reduce costs in the long term.
Among other things it helps to: protect against counterfeiting and piracy and other forms of theft; detect criminal activity early; improve business-partner and customer satisfaction, and manage inventories better and reduce costs.
Outsourcing and supply chain
Industries on highly-configurable compliance and risk management solutions must ensure that GRC provisions are taken into account when outsourcing and supply chain. It requires a comprehensive and practical solution to the compliance and risk management challenges inherent with diverse and dispersed workforces, third party relationships, bribery and corruption practices, and conflicts of interest.
The attached document provides the core elements of supply chain compliance with regulatory content, risk assessment profiles, and policies – so that compliance and risk management professionals can see and take action on the emerging risks and trends in their GRC programs for the entire supply chain.