Supply chain diversification. It sounds great in theory, but in practice, it’s a little more complicated than just deciding where to source materials from or deciding to move manufacturing closer to your end customer. It is a multi-layer strategy that can take years to plan and execute.
In most cases, it also requires bringing on more partners, more vendors, more customers, and more data connections that can span countries and continents. According to recent research from Kiteworks, 90% of Fortune 2000 companies are exchanging sensitive content with over 1,000 external entities regularly. (You can read more on that survey here)
That is a lot of potential for problems. And while supply chain diversification is an important risk mitigation strategy in today’s global economy, it is not without its own risks.
Tim Freestone is the chief marketing officer of Kiteworks and recently joined Talking Supply Chain host Brian Straight to discuss the importance of securing your digital networks. With over 17 years of experience in marketing leadership, brand strategy and process and organizational optimization, in addition to a significant technology background, Freestone is familiar with the type of threats companies are facing today and offers practical advice on how to mitigate the risks.