The rise of Industry 4.0 and 5.0 has significantly changed the whole supply chain landscape, converting them into sophisticated integrated systems through the use of technologies such as Internet of Things (IoT), Artificial Intelligence (AI), and Bigdata. As a result, there are numerous enhancements that supply chains are receiving, from better real-time monitoring to more convenient inventory management facilities. Nevertheless, it is found cybersecurity threats are on rise comprising high prevalence of ransomware, which are allowing hackers to disrupt operational flows, and Advanced Persistent Threats (API), which are being used to access confidential information. The presence of old systems together with advanced implementations in the digital sphere is observed more and more frequently. In these circumstances, companies should not only adopt technological innovations in the digital sphere but also implement strong measures to guarantee that their systems are protected from cybersecurity threats, improve their vulnerability assessments, and continue revising their incident response mechanisms. To a large degree, efficient supply chain management in Industry 4.0 and 5.0 revolves around a careful balance between technological advancements and strong cybersecurity measures. In this chapter, the effort has been made to understand comprehensively the entire supply chain ecosystem and discuss the challenges, strategies and approaches that could be applied to manage supply chains efficiently.