Supply chain under stress

Organisations facing significant security risks

Digital supply chain cyber security plans are not just something to be concerned about in the wider scheme of things, says Martin Tyley, head of UK Cyber at KPMG UK – they are “the safety net our country needs to survive and thrive.”

“We are in the midst of a boom in supply chain technologies, from IoT devices in warehouses to driverless vehicles. However, all of these technologies are enabled via a myriad of access points, sensors and scanners. These devices are often physically dispersed and are not top of mind for organisations’ IT security design, which exposes organisations to significant supply chain security risks.

“In tandem, recent global supply chain issues have caused major disruption, hit front page headlines and are considered the biggest threat to business growth according to recent research. The KPMG 2021 UK CEO Outlook reported that 59% of UK chief executives are saying their business supply chain has been under increased stress since the start of the COVID-19 crisis. Furthermore, 16% of UK business leaders say they would be boosting British supply over the next three years. However, these plans are under threat from cyber criminals hoping to wreak havoc.”

Overall, the KPMG research states that, while CEOs are optimistic about growth, they are also wary about threat levels: “Confidence in growth has returned to the levels seen before the pandemic,” confirms the Outlook report. “In the UK, 83 per cent of CEOs are confident about UK growth over the next three years. And 88 per cent are confident about their own organisation’s growth prospects. But there are threats to overcome – with the top five identified as disruptive technology, regulatory, cyber security, supply chain and climate change risks.”