Navigating the Supply Chain Risk Landscape [Infographic]

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.