ICT Supply Chain Risk Management Task Force | CISA (2024)

FAQs

What is ICT supply chain risk management? ›

Managing ICT supply chain risk requires ensuring the integrity, security, and resilience of the supply chain and its products and services, with their quality also being ensured.

The ICT supply chain is a complex, globally interconnected ecosystem that encompasses the entire life cycle of ICT hardware, software, and managed services and a wide range of entities—including third-party vendors, suppliers, service providers, and contractors.

IT risk management is the process of managing cybersecurity risks through systems, policies, and technology. This process consists of three primary stages - identification, assessment, and control to mitigate vulnerabilities threatening sensitive resources.

From cell phones to cloud storage to satellite connectivity, the ICT supply chain encompasses the entire life cycle of hardware, software, and services and a diverse array of entities—including third-party vendors, suppliers, service providers, and end users.

IT can help streamline the process by providing access to a variety of resources and tracking information related to bids and contracts. It also can help improve communication among departments within an organization, as well as with external suppliers.

The use of ICT enables the goods reach the customer at the right time The use of ICT increases the speed of the logistics activities. The use of ICT reduces the cost for both the company and the customer The use of ICT increases the reliability of the service.

It can help streamline the process and make it more efficient by automating certain tasks, such as data entry, invoice processing, and payment tracking. ICT enables better communication between procurement parties, such as suppliers and buyers, leading to improved accuracy and visibility of procurement data.

IT risks include hardware and software failure, human error, spam, viruses and malicious attacks, as well as natural disasters such as fires, cyclones or floods. By looking at how your business uses IT, you can: understand and identify the types of IT risks. understand the impact of risks on your business.

Technology plays a crucial role in modern risk management practices. It enables businesses to automate and streamline risk management processes, collect and analyze data, and enhance decision-making.

What are the 7 R's of supply chain management? ›

In this step, we look at the 7 Rs of logistics. So, what are the 7 Rs? The Chartered Institute of Logistics & Transport UK (2019) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.

Partner Portal, a cloud-based vendor management solution, can help an organization implement the three C's - communication, collaboration, and change effectively and eventually synchronize the supply chain operation.

These supply chains come across different types of interactions at various levels in order to get benefitted. These interactions are helpful in establishing alliances. Further, the interactions also called interrelationships are stated as Coordination (C), Cooperation (C), Collaboration (C) and Co-opetition (C).

Supply chain risks arise from various sources, including external factors such as natural disasters, political instability, economic fluctuations, and supplier failures, as well as internal factors such as production delays, quality issues, or data breaches.

1. Risk Identification. Risk identification is the process of documenting potential risks and then categorizing the actual risks the business faces. The totality of potential and actual risks is sometimes referred to as the risk universe.