Supply Chain Security: Why it’s Important & 7 Best Practices
Necessity and Best Practices of Supply Chain Security
Due to the complex nature of the supply chain management process, the risks of theft, sabotage, and terrorism are quite high. This raises the need for strategic and professional supply chain security. Supply chain security includes the security of the supply chain, logistics, and warehouses. Under supply chain security, special security measures are taken to safeguard valuable inventory, infrastructure, and personnel throughout every stage of operations. In this blog, you’ll develop an understanding of supply chain security’s importance and 7 best practices.
Importance of Supply Chain Security
As discussed above, the supply chain management process is quite complex as it involves a network of organizations, producers, vendors, warehouses, transportation companies, distribution centers, and retailers. The function it services like product development, marketing, operations, distribution, finance, and customer service makes it an important part of the production cycle. Therefore, strict supply chain security is required at every stage to keep track of ominous activities. Organizations that don't take supply chain security seriously are more prone to theft, robbery, sabotage, and terrorism. As a result, develop a tainted reputation for their organization and financial losses.
7 Best Practices to Overcome Security Issues
Managing third-party risks
As we know, the supply chain involves a network of companies and organizations that makes the process more complex, this makes the supply chain process more vulnerable to potential loopholes, and theft of data, assets, and sensitive information by third parties. Therefore, monitoring the actions and activities of the third parties and maintaining clear communication with them reduces the risk of management evident in the supply chain.
Inventory Management
Implementation of strategic measures in inventory management is necessary to safeguard the raw materials, final products, machinery, and sensitive information. Proper Inventory Management helps the supply chain management run smoothly.
Hiring professional Security Guards
Hiring a professional Security Guard adds strategic and high-quality security to your supply chain management. A professional guard from a security agency solves most of the security issues. During training, they are taught and trained to eliminate the potential threats hindering the process of the supply chain, they monitor and deal with security issues.
Addition of Strict Access Control
Strict Access control during transportation and movement of vendors, laborers, and workers prevents theft, sabotage, robbery, and terrorism by these outsiders. Strict access control over important parts like warehouses, inventory, and logistics safeguards the valuable material stored in these places.
Vendor Management
Proper background checks of vendors who are a part of the supply chain, and detailed checking of the necessary documents prevent the chances of malicious intent posed by these vendors and form a trusted relationship among the supply chain.
Vigilant Surveillance
The use of technology installation for security purposes keeps track of activities taking place in logistics, warehouses, and inventory. Visual Surveillance
Create and practice emergency response plans
With the help of a security services agency, you can create a risk management assessment for your organization and develop an emergency response plan during emergencies and any kind of security issue, or climate disaster and implement it during the time of need.
FAQs related to Supply Chain Security: Why it’s Important & 7 Best Practices
At Bombay Security Services, we understand the necessity to answer all your questions so that you can make your firm decision. Below are some frequently asked questions related to Supply Chain Security -
Implementing strict vendor vetting, adopting encryption, and conducting regular audits are essential.
Technologies like blockchain and IoT enhance transparency and traceability in supply chains.
Best practices include training staff, establishing contingency plans, and fostering strong supplier relationships.