It was in the month of May this year that the European Union’s GDPR came into effect. So how has data privacy regulation affected the Supply Chain? With the GDPR, users will now have to take action in order to control their data to a privacy by design model. The same, shift is said to have wide ranging impacts.
One of the areas which seems to be badly affected is the the supply chain. This is since GDPR is said to have strict enforcement mechanisms and also it applies to all the companies that do business in Europe.
It is said that companies would require at least two years between when the GDPR was passed and going into effect. The companies need to consider certain factors in order to ensure that their supply chain are GDPR complaint. This includes creating mechanisms in order to structure data, audits in order to understand where the data is held, protocols in order to react to situations, also regular data and privacy audits.
Nowadays there are various tools available in order to factor GDPR compliance into the framework thereby reducing risks for companies particularly the smaller ones.