Sourcing and Procurement

Secure Procurement: The Key to Ensuring Organisational Stability and Growth

Procurement and supply chain processes can be quite dynamic and complex, increasingly so with digitalisation. The rising interconnectedness with third-party providers leads to a corresponding deepening vulnerability to cyber-attacks across the procurement function. Cybercrimes can occur through software, hardware, service providers, system access, and authentication weaknesses. Organisations must take robust and ongoing measures to prevent, detect, and remediate breaches within their infrastructure and third-party supplier systems. Regular audits, personnel training, and a comprehensive cyber-security protocol for the parent organisation and all third-party suppliers are imperative. Using AI tools to prevent potential breaches, detect intrusions at the earliest, and speed up recovery, helps organisations minimise attacks and the fallout of any attacks that could not be stopped.

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