Address various aspects of some of these questions around Data Driven Decisions. I’ve listed some areas here for you to consider researching / discussing. -Be sure to listen to the le
-Address various aspects of some of these questions around Data Driven Decisions. I've listed some areas here for you to consider researching / discussing.
-Be sure to listen to the lectures, including the guest lecturer. The guest lecturer need to have a Masters in Data Analysis, and has some interesting insights to share.
-Is there really such a thing as a data driven decision? How do data driven decision help you in problem solving, which allow us to find solutions via info gathering, critical thinking, and quantitative logic (define the problem, identify root causes, identify solutions, choose the best, implement & verify the solution).
– Lastly, include a discussion on how DDDM would have impacted your decision making in Week 4 during the simulator ( attached simulator game paper for discussion part).- https://www.superoffice.com/blog/data-driven-decision-making/
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Supply Chain Game
Dominique Elmadi
UONA
Supply Chain Game
In the Targeted Attack: The Game, I made various decisions that led to a final score of 82/100. This score indicates that I was effective in stopping a breach and defending my company from a targeted attack. Let's analyze my decisions and how they relate to supply chain management in the technology industry.
Correct Decision Making:
Purchase a Multi-Layered Security Solution
Opting for a multi-layered security solution is the right choice because it provides multiple lines of defense to protect your company from potential cyberattacks. This decision aligns with the supply chain management by highlighting the importance of ensuring that your supply chain partners, such as vendors and suppliers, also maintain strong security measures (Meckling & Nahm, 2019). Just as your company invests in security, you must ensure that your entire supply chain ecosystem is similarly fortified. This is crucial to avoid vulnerabilities that could affect your operations.
Weak links in the supply chain, such as insecure suppliers or vendors, can introduce risks and potential vulnerabilities (Karim, 2022). Ensuring that your supply chain partners maintain robust security practices helps to create a secure end-to-end chain, reducing the likelihood of breaches and disruptions.
Implement Fundamental Security Measures
This decision involves putting basic security measures in place, including actions like setting up firewalls, regularly updating software, and educating users on security best practices. Just as it is essential for your company to have these fundamental security measures, in the supply chain, it's equally critical to ensure that your suppliers and partners adhere to similar security best practices. The weakest link in your supply chain can expose your business to significant risks.
Supply chain partners who lack basic security measures may inadvertently become entry points for potential attackers. Ensuring that all links in the supply chain maintain basic security standards is crucial to safeguard the integrity and security of the entire chain.
Keep an Eye Out for Any Threats
Staying vigilant and proactively monitoring for potential threats is vital in both the game and real-world supply chain management. In the game, this action enables you to detect and prevent hostile activity before it causes damage. In the context of the supply chain, being proactive in identifying risks, whether they pertain to security, product quality, or logistics, is crucial for preventing disruptions and vulnerabilities (Meckling & Nahm, 2019).
In the supply chain, constant monitoring helps in identifying early warning signs of potential issues, be it in terms of security breaches, quality control problems, or logistical bottlenecks. Addressing these issues promptly can prevent disruptions and protect your supply chain's resilience.
Choose to Purchase Cyber Insurance
This decision underscores the importance of having a risk mitigation strategy in place. Cyber insurance can provide financial protection for your business in case of data breaches, covering expenses such as legal fees, investigations, and other associated costs (Meckling & Nahm, 2019). Similarly, in supply chain management, it's essential to have contingency plans and insurance in place to mitigate risks and unforeseen events that could disrupt the supply chain.
Unforeseen disruptions, whether they are due to security breaches, natural disasters, or other unexpected events, can severely impact the supply chain (Karim, 2022). Having insurance and contingency plans in place can help your business recover more quickly and minimize the financial impact of these disruptions, thus ensuring the continuity of your supply chain operations.
Managing the Supply Chain Using Decision-Making Lessons
To apply the decision-making lessons from the game to supply chain management in a technology-transforming company:
1. Supplier Assessment: I would ensure that our supply chain partners, including vendors and suppliers, adhere to robust security standards like the ones I implemented in the game (Karim, 2022). This would involve assessing their security measures and ensuring they invest in multi-layered security solutions, basic security measures, and continuous monitoring for potential threats.
2. Risk Mitigation: Just as I purchased cyber insurance in the game, I would establish risk mitigation strategies within the supply chain. This could include contractual agreements with suppliers to share the responsibility for potential security breaches or other risks. It's essential to have a clear plan in place for managing unforeseen disruptions.
3. Supply Chain Transparency: I would emphasize transparency in the supply chain, ensuring that all stakeholders are aware of potential risks and vulnerabilities (Karim, 2022). Open communication within the supply chain allows for faster responses to emerging threats or issues.
4. Education and Training: Much like educating users on security best practices in the game, I would also focus on training employees and supply chain partners to understand and address security risks. This proactive approach can help in preventing security lapses and vulnerabilities.
In conclusion, the game taught me valuable lessons in making decisions related to cybersecurity and risk management, which are directly applicable to managing a secure supply chain in the technology industry (Karim, 2022). By adopting similar security measures and risk mitigation strategies in the supply chain, a technology company can minimize vulnerabilities and ensure the continuity of operations, ultimately leading to greater success in the ever-transforming tech landscape.
References
Meckling, J., & Nahm, J. (2019). The politics of technology bans: Industrial policy competition and green goals for the auto industry. Energy Policy, 126, 470-479.
Karim, M. S. (2022). Maritime cybersecurity and the IMO legal instruments: Sluggish response to an escalating threat?. Marine Policy, 143, 105138.
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