Manufacturing Security Quarterly Digest
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by equilibrium risk Summer 2024
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"Keeping You Informed on the Latest in Manufacturing Security" |
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1. Letter from the Editor... |
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Welcome to the Summer Edition of our NEW Manufacturing Security Quarterly Digest.
We are committed to keeping you informed about the latest trends, best practices and innovations in the field of manufacturing security.
In this issue, you'll find highlights from our past newsletter, important news, expert insights, and more.
Thank you for staying connected with us.
Luke |
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2. Highlights from our Monthly Newsletter... |
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From bringing Made in UK back to life, what it takes to be a world leader in the business of British manufacturing as well as introducing the Cyber Assessment framework, this is a newsletter not to be missed. You can read it here.
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In our May newsletter, we highlighted to hidden costs of criminal activity on manufacturing efficiency, along wit the good news of UK Manufacturing output increasing for the first time since 2022. In our security tip, we spoke about the importance of early detection in manufacturing security. If you missed it, you can catch up with it here. |
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In our May newsletter, we highlighted to hidden costs of criminal activity on manufacturing efficiency, along wit the good news of UK Manufacturing output increasing for the first time since 2022. In our security tip, we spoke about the importance of early detection in manufacturing security. If you missed it, you can catch up with it here. |
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3. Industry News & Trends... |
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An overview of the most recent trends shaping the industry, including important updates affecting manufacturing security. |
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Manufacturing Software Trends
Manufacturers are experiencing difficulties with the software selection process, with nearly half reporting regret due to higher-than-expected costs and implementation issues. This indicates a need for better alignment and more thorough research when selecting technology solutions. |
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| | Wireless Charging Highways
The transportation sector is on the cusp of a major innovation with the development of wireless charging highways. Companies like Detroit Manufacturing Systems and InductEV are leading the charge, which could revolutionize how electric vehicles are charged. |
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Recent Cyber Attacks on the Manufacturing Industry
- Several high-profile cyber attacks have targeted the manufacturing sector in recent months, underscoring the critical need for improved cybersecurity. Notable incidents include:
- Clorox: Suffered a major disruption due to an unspecified attack, costing the company $356 million in lost sales and recovery efforts.
- Norsk Hydro: Faced a ransomware attack that resulted in $70 million in losses. The company chose not to pay the ransom and operated manually for weeks.
- Mondelez International: Hit by the NotPetya malware, causing $100 million in damages and significant operational disruptions.
- JBS: Experienced a ransomware attack that halted operations for days and led to an $11 million ransom payment.
- Brunswick Corporation: A 2023 cyber attack disrupted operations for nine days and cost the company $85 million.
- Applied Materials: A supply-chain ransomware attack in 2023 led to $250 million in lost sales.
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TSMC's Expansion in Japan
TSMC is considering expanding its advanced packaging facilities in Japan. This move is part of Japan’s efforts to revitalize its semiconductor production capacity with investments from major players like Intel and Samsung also showing interest in establishing facilities in the country |
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India’s electronics manufacturing sector is witnessing rapid growth, driven by increased domestic production and favourable government policies. This surge is positioning India as a significant player in the global electronics market. |
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4. Featured Security Solutions... |
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A spotlight on a few innovative security solutions that have emerged in the market, with a closer look at cutting edge technologies improving manufacturing security. |
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Rise of Cyber-Physical Security Integration
Cyber-physical systems are becoming increasingly integrated, making security a top priority for manufacturers. Recent trends show a rise in cyber attacks that target both IT and OT systems, causing significant disruptions in operations. Waterfall Security Solutions' 2024 Threat Report highlights the growing threat landscape and the need for robust security measures in industrial environments. |
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AI and the Fourth Industrial Revolution in Physical Security
The advent of AI and Industry 4.0 is revolutionizing physical security. Advanced AI algorithms are enhancing threat detection, streamlining security operations, and mitigating risks. These technologies are set to transform how we approach security in manufacturing, making operations more efficient and secure. |
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IoT Security Challenges and Solutions
The proliferation of IoT devices in manufacturing presents new security challenges. Manufacturers are focusing on securing these devices through stronger encryption, regular updates, and network segmentation to prevent them from becoming entry points for cyberattacks |
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Jonathan Gordon on Industrial Cybersecurity |
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Jonathan Gordon, a seasoned cybersecurity professional with over 30 years of experience, provides in-depth insights into the complexities of manufacturing security.
In his interview, Gordon highlights the evolving nature of cybersecurity threats in the industrial sector, emphasising the need for a multifaceted defence strategy.
He covers topics like the integration of digital technologies, the importance of securing interconnected systems, and best practices for mitigating risks. Key strategies discussed include robust encryption, strict access controls, and a defence-in-depth approach to safeguard manufacturing operations from a variety of threats.
Read the full interview. |
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Gartner's Cybersecurity Trends and Strategies |
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Gartner's report on cybersecurity trends for 2024 discusses the critical need for resilience and performance in security programs. It highlights emerging threats, the impact of generative AI, and the importance of evolving identity and access management.
This perspective is vital for understanding how to future-proof manufacturing security against new challenges.
Read more on Gartner's website. |
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6. Upcoming Events & Webinars |
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With research showing that businesses that win a category at the Global Excellence Awards achieving upwards of a 60% increase in revenue, this is set to be a well attended event.
Category of note: Best Use of AI for Smart Manufacturing
Register to join here.
Or submit your entry here. |
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We will be exhibiting at Advanced Engineering on 30 & 31 October 2024 at the NEC along with our friends at Conex Portal.
Advanced Engineering bridges the gap between sectors for the entire engineering and manufacturing supply chain.
If you would like to come along, you can register your FREE place here. |
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The Made in Group have restarted their #BackingBritain campaign and require your support!!
Manufacturing is not just another sector - it’s the backbone of our prosperity and a cornerstone of our national security. Yet, despite its immense importance, manufacturing faces significant challenges that threaten its long-term resilience and competitiveness. And once manufacturing capacity is lost, it is incredibly difficult, if not impossible, to regain. This critical point needs to be understood at the highest levels of government.
💪 Strengthening and safeguarding Britain’s manufacturing capacity
🧑🏭 Appointing a Minister for Manufacturing
🇬🇧 Addressing concerns related to the ownership of British businesses
Sign the #BackingBritain Campaign by clicking the image above |
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As proud members of our local manufacturing organisation, Calderdale & Kirklees Manufacturing Alliance, it give us great pleasure in raising awareness of the next event.Save the Date - 25th September 2024
Keep an eye on their website for more details. |
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AI & Robotics Day
2nd January 2025 |
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Have questions or want to learn more about how we can help secure your manufacturing operations?
- Email: hello@equilibriumrisk.com
- Phone: 01484 505321
We look forward to hearing from you! |
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Equilibrium Risk. 3M BIC Firth Street, Huddersfield. W Yorks. HD1 3BD. United Kingdom |
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