Navigating the Supply Chain Risk Landscape [Infographic]

1 minute read

June 2023

by cybergrx

The supply chain risk landscape continuously changes, posing constant cyber risks and threats to manufacturers. Amid discussions about the landscape, it’s important to differentiate between the terms “risk” and “threat” as they are often used interchangeably but have slight variations in meaning.

Threats encompass potential dangers and harmful events that exploit vulnerabilities and compromise systems, networks, or data security. Hackers, malware, unauthorized access attempts, and natural disasters are examples of threats that organizations must identify and defend against.

Risk, on the other hand, gauges the likelihood and impact of specific threats being realized. “Risk” combines the probability of a threat occurring with its potential consequences, assessing harm to assets, operations, and reputation.

For manufacturers with vast supplier networks, a comprehensive approach is best; your third-party risk management (TPRM) program should consider both cyber threats and risks.

 

Supply Chain Vulnerabilities

Because the manufacturing industry is closely tied to many other sectors, such as retail, transportation, and energy, it increases a manufacturer’s vulnerabilities.

In the past, the manufacturing industry dismissed the notion of being targeted by threat actors. However, it’s quite the opposite today. Ransomware, phishing attacks, industrial IoT vulnerabilities, and supply chain attacks persistently plague manufacturers. Threat actors recognize manufacturers are an entry point into supply chains and are drawn to the interconnectedness. 

This infographic provides a visual snapshot of the supply chain risks in manufacturing, highlighting the industry’s unique challenges and areas for improvement.

Supply Chain Risks in Manufacturing

 

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ProcessUnity is the Third-Party Risk Management (TPRM) company. Our software platforms and data services protect customers from cybersecurity threats, breaches, and outages that originate from their ever-growing ecosystem of business partners. By combining the world’s largest third-party risk data exchange, the leading TPRM workflow platform, and powerful artificial intelligence, ProcessUnity extends third-party risk, procurement, and cybersecurity teams so they can cover their entire vendor portfolio. With ProcessUnity, organizations of all sizes reduce assessment work while improving quality, securing intellectual property and customer data so business operations continue to operate uninterrupted.