Shippers continually deal with unprecedented disruptions, including the effects of the global pandemic that are still rocking most market and industry niches. In addition, shippers face heightened threats to supply chain cyber security.
Why Risks Remain in Supply Chain Cyber Security
In May 2021, the Biden administration issued an executive order to put more resources and focus on the nation’s cyber security. Among focus points in the initiative are strengthening the infrastructure, networks, security guidelines, supply chain cyber security measures, and technology for truck fleet management.
“Nearly half (41.8%) of all small businesses were the victim of a cyberattack in the last 12 months,” according to AdvisorSmith.
In a day and age governed by automation and cyber connections, the need is critical for reliable cyber security logistics and protection. According to Forbes, cybercriminals today can penetrate more than 90% of small and medium-sized company networks and access data and other resources with advanced hacking abilities. It has also been estimated that in 2021 small businesses suffered 50% more cyber attack attempts per week than ever before.
The mounting threat of cybercriminals targeting small and medium-sized shipping companies continues to grow, especially as shippers struggle to keep up. An updated and adequately utilized transportation management system with supply chain cyber security safeguards can make a massive difference for shippers in this digital age.
Shippers Need to Consider Vendor System Cyber Security
Pandemic and related disruptions have had far-reaching impacts on the supply chain. Based on industry reviews, “the pandemic meant supply chain and vendor performance problems for many risk management practitioners, with 83% of study respondents reporting increased organizational focus on third-party risk as a result.”
Customer and company data remains protected and secure, even in ongoing cyber threats and attacks when organizations:
- Embrace cyber security logistics
- Ensure team members receive proper training
- Implement adequate technology onboarding
Supply chain cyber security and TMS integration can no longer be ignored and treated as an afterthought. In a world governed by digitalization and inter-connectedness, protecting data, resources, information, and networks must be priorities for shippers.
What’s Next and What Can Shippers Do Right Now?
The ability to account for disruptions and respond accordingly is critical for cyber threat protection. SOC Type 2 compliance is part of the American Institute of CPAs’ Service Organization Control reporting platform. It focuses on the security, availability, processing integrity, confidentiality, and privacy of customer data to monitor, track, and improve industry processes to safeguard data.
Cyber security logistics drastically impact shipping companies’ short-term and long-term growth and can significantly boost throughput. This is especially true during instability and upheaval. More than ever, shippers must give transportation cyber security the attention it deserves. Improve your 2022 supply chain cyber security policy to keep up with current threats and risks.