Supply Chain
A supply chain is the transformation of raw materials into finished products and making them available to consumers. A supply chain comprises suppliers, manufacturers, distributors, and retailers, ensuring products journey seamlessly from creation to consumption. Companies engage in this process through procurement. In procurement management, it proves beneficial to classify various types of connections. The following list compares the different parties in supply chain management:
- Managed service providers (MSPs): An MSP is a third-party organization that fulfills all of a company’s IT needs. A single compromise within an MSP’s infrastructure can ripple across multiple clients, leading to cascading breaches. To mitigate this risk, organizations should demand stringent security standards from their MSPs, including regular audits, robust access controls, and a commitment to promptly patch any vulnerabilities.
- Vendors: The relationships between organizations...