only be as strong as its weakest link when it comes to security , hence organizations need to ensure that all suppliers and vendors are incorporated into any cybersecurity processes , irrespective of software type or service offered . To combat this , many organizations use a ‘ Corrective Action Report ’ to fix any cybersecurity problems identified in a supplier ’ s processes : this is the most effective way to ensure cyber risks are kept as low as possible . Steps to address the given issues should also be incorporated into the report and deadlines should be given for enacting measures . Fortunately , this awareness of lower tier risk is increasing , and by 2025 , Gartner estimates that around 60 percent of organizations will be using cybersecurity risk as a key factor to determine business engagements with third parties .

Inflation ’ s increasing risk to secure supply networks

Inflation will continue to feature heavily throughout the coming year , meaning supply chains will become more expensive through increases to costs and services . And it is these added pressures which may require companies to reassess their current supply chains to help minimize costs or to ensure continuity of supply if suppliers are no longer able to provide products or services . The ripple effect this could cause to organizations may be significant . One way to combat rising costs and secure supply is to map your supply chain down several tiers . It is often low-spend , singlesourced materials and components produced by third or fourth-tier suppliers that cause the most disruption if they become unavailable . I read an example of this not too long ago which saw the absence of just one of 20 components - a 12-cent part - halt an assembly line for two weeks , causing weeks of disruption and significant revenue loss . This only underscores the need for suppliers to have multi-tier visibility through mapping , and it is paramount that companies increase visibility over low-spend suppliers in

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