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 a leading provider of cloud-based applications for risk and compliance management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. ProcessUnity’s flagship solution, ProcessUnity Vendor Risk Management, protects companies and their brands by reducing risks from third-party vendors and suppliers. ProcessUnity helps customers effectively and efficiently assess and monitor both new and existing vendors – from initial due diligence and onboarding through termination. Headquartered outside of Boston, Massachusetts, ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. For more information, visit www.processunity.com.