How to do sales forecasting the right way for your business

The world always has high regard for people who have the esoteric skill of being able to predict the future. In the business world, luck favors sales professionals who can prophesize the yearly sales…

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Supply Chain Hacking

A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer according to Investopedia. Which also means, the way a producer delivers their product to the consumer. In supply chains there are producers (those that make the products), vendors and retailers (those who try to sell the products), warehouses (places to store the products), transportation companies, and distribution centers. For the supply chain to function properly there should be product development, marketing, operations, distribution, finance, and costumer service. In other words, the management of the entities in the supply chain. The organizations are “linked” together through physical and information flows. Physical flows involve the transformation, movement, and storage of the products while information flows allow partners to coordinate plans and control the goods and materials throughout the chain. Both equally important in the supply chain according to NC State University. This way the supply chain results in lower costs and a faster production cycle according to Investopedia.

Supply chain hacking is when the information is tampered with due to a weak link. This weak link can be between your partners or suppliers letting outsiders have access to the system or data. Hacking groups look for unsecure networks, unprotected servers, and unsafe codes. From there they can meddle with software updates through malware and access source codes, build processes, and update mechanisms. When vendors sell the apps or updates there could already be malicious code inside, all this information was from TechXplore. That is why supply chains should be more secure and careful of who works in it. There are actually 7 ways to mitigate or prevent supply chain attacks. One way is to include security requirements in the contract for supply chains. Create standardized vendor assessments to find those educated in third-party risk management (TPRM). Test the vendor’s ability to respond to security incidents and their capabilities. Have vendors conduct penetration tests which tests the computer system through ethical hacking in order to find vulnerabilities in the system. Another way is to control the information shared and how it is shared to minimize risk of exposure to service providers. Vendor access should be more secure and so that the access to information is harder. Finally, know who the third parties are and what you are sharing with them, these tips came from DarkReading. That way there is less of a chance for supply chain attacks.

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