Cybersecurity and Software: Strategies To Safeguard Your Supply Chain Business

What is that one aspect that has kept business leaders of the supply chain industry at their toes?

You guessed it right—it’s the supply chain risk.

With the cost of a data breach reaching $4.45 million in 2023, ignoring the security vulnerabilities of your supply chain is a costly mistake.

But where do companies go wrong?

When companies think about cybersecurity, they only secure their software, networks, and digital assets but overlook supply chain risks.

Securing a supply chain is highly complex, as it involves the flow of goods from one location to another. What makes it even more challenging is that cyberattacks trigger a chain reaction – one attack on a single supplier compromises the entire network of providers and businesses.

That said, here are some strategies to improve the cybersecurity of your supply chain.

1.   Secure your fuel tracking software

Whether you’re a food delivery firm, an e-commerce store, or a construction company, you operate with a fleet of vehicles—they’re an integral part of your supply chain. Use fuel tracking software to:

  • Manage your fleet
  • Ensure optimum fuel efficiency
  • Understand the cost per mile for every asset
  • Know your fuel economy
  • Reduce fuel theft

 

But did you know these tools are susceptible to security vulnerabilities? Some security issues you’re likely to encounter are:

  • Unauthorized access to vehicle systems: Fuel tracking systems connect with the Internet to provide real-time updates, making them susceptible to hacking. When your tools are vulnerable, hackers easily access your vehicle location, fuel data, operational details, driver’s information, and much more. Such data works like a goldmine, allowing hackers the power to disrupt your supply chain.
  • Malware and ransomware attack: A compromised system is a storehouse for malware and ransomware to party together. Malware easily disrupts your operations and comprises your supply chain data. Ransomware attacks are much worse. They completely lock out users and give cybercriminals access. These criminals demand hefty payment for releasing data, otherwise they cause non-reversible damage to your supply chain.

To secure your fuel tracking system, deploy secure communication platforms to prevent unauthorized access. Use penetration testing and regular security checks to identify potential vulnerabilities before they become unmanageable.

2.   Protect your battery management software

Because most companies want to give back to society, they focus on sustainable business practices. One such practice is using an electric vehicle (EV) fleet for supply chain operations. While the EV fleet is eco-friendly, it requires efficient battery management software (BMS) to prolong the battery’s life and increase its performance.

These systems monitor and analyze battery usage data, often critical for your supply chain’s success. As BMS analyzes sensitive and important data, it’s prone to these cyberattacks:

  • Availability attacks: Refer to denial-of-service (DoS) attacks in which attackers attempt to make the battery management system unavailable to your EV fleet. Attackers attempt a DoS attack by either crashing or flooding the network. The most prominent DoS attack is the distributed DoS or DDoS, where multiple attackers work together to attempt a synchronized attack.
  • Eavesdropping and information leakage: This type of cyberattack occurs when there’s information leakage from eavesdropping or listening to the conversation between your BMS and other components. Such attacks make the following data available to attackers:
  • Sensitive and operational information like battery health metrics, maintenance logs, and charging schedules
  • Confidential information about supply chain logistics, inventory levels, and route planning
  • Personal or financial data of users, employees, or customers associated with the EV fleet operations
  • Unauthorized access and management: When hackers gain unauthorized access to your BMS, they change your operational parameters and modify your BMS algorithms. These alterations reduce the functioning and deteriorate your BMS. For instance, hackers often change the battery’s charging set points to either overcharge the battery or ensure a thermal run. In either case, your battery’s life reduces significantly.

To address these security challenges, implement intrusion detection systems (IDS) to identify and quickly respond to unauthorized alterations and access. Conduct regular security audits and update your BMS with the latest security patches. Moreover, many companies use advanced encryption techniques to prevent information leakage from BMS to other components.

3.   Conduct an internal risk assessment of your supply chain

With 98% of companies using at least one third-party software that was breached in two years, conduct an internal risk assessment of all your third-party software.

However, managing and tracking every third-party software is challenging, especially if your supply chain uses a large network of suppliers and distributors. These suppliers and distributors may use a separate network of third-party vendors.

Conducting an in-depth risk assessment to ensure you don’t miss out on any vulnerabilities affecting your entire workflow. Hire a robust cybersecurity assessment team to patch your vulnerabilities and ensure your software is up-to-date.

Focus on performing risk analysis to identify gaps and improvement areas in industry best practices. The more importance you give to your internal IT assessment, the better your security and the less vulnerable you are to cyberattacks.

4.   Educate everyone in your company

Sometimes your employees may take cybersecurity requirements too lightly, resulting in negative consequences for your supply chain. Your staff makes mistakes because they’re careless or lack the training to handle potential system vulnerabilities.

With 95% of data breaches and security issues occurring because of employee errors, offering comprehensive cybersecurity training is the key to success.

But where should you start the training?

When creating a cybersecurity training program, start with your C-suite executives. Ensure your transformation starts with top-level management. When seniors show interest in attending training, other executives follow. Leading by example is likely to reap the desired results.

So, appoint a senior cybersecurity professional to protect your company from malicious software and attacks.

Another way to educate your employees is by creating a comprehensive security handbook. Ensure your handbook mentions the following:

  • Encourage employees to use strong passwords
  • Use multi-factor authentication
  • Avoid pop-ups when surfing the internet
  • Never click on unknown emails and unauthorized links
  • Avoid using public networks when working with sensitive data

 

5.   Implement a zero-trust architecture (ZTA)

A zero-trust architecture is a security approach in which you assume all your networks, systems, and software activities are malicious by default. Only after each request passes through a strict list of policies can the network and system easily access intellectual property.

When you use a ZTA, you approach every component of your supply chain with zero trust. ZTA makes it challenging for attackers to access and use your sensitive data. You can implement ZTA by using these seven steps:

  1. Identify all your users
  2. Identify your enterprise assets
  3. Know about your network processes
  4. Create your ZTA policies
  5. Come up with zero-trust solutions
  6. Implement your zero-trust solutions
  7. Scale your zero-trust framework

Supply chains implementing the ZTA will experience fewer long-term breaches while providing users with a better experience of using your supply chain.

6.    Use honeytokens

Honeytokens are digital assets you use as bait for potential cyber attackers. For instance,  your customer’s financial information is an attractive asset to entice attackers. When the attacker falls into the trap and accesses the digital asset, it alerts you about the attempted breach.

As you store the attacker’s information, you block the IP address and notify appropriate authorities about the breach. Interestingly, when hackers are not using any firewall, finding their location and IP address becomes a breeze.

Using honeytokens, you prevent supply chain attacks even before they occur. Additionally, armed with the attacker’s information, you easily isolate the resources everyone is targeting. Based on the type of attack, you deploy incident response efforts every time there’s a cyber attack on your digital assets.

In your supply chain, place a honeytoken in your software or service to prevent malicious attempts. When a hacker attempts an attack, you patch potential vulnerability areas and prevent the breach of your customer’s data.

Some best practices for using  honeytokens are:

  • Choose the right type of honeytoken from tokens, credentials, database records, and documents
  • Properly place your honeytokens
  • Integrate your honeytokens with your existing security infrastructure
  • Update and maintain your honeytokens

Lastly, ensure your security team documents all your honeytokens.

Don’t let open doors close your supply chain

Implementing the security measures mentioned above makes your supply chain more powerful and less attractive to hackers. Always remember that the best defense is what you need. So, give importance to cybersecurity to protect your data and benefit your employees and customers.

Use these cybersecurity strategies to protect your supply chain and its related software

 

Author’s bio 

Priya Jain is a professional copywriter with 9 years of experience. She has an MBA and an engineering degree. When she is not writing, she teaches math, spends her day running behind her toddler, and tries new recipes. You can follow her on LinkedIn.