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Consider: In the decade from 2011 to 2021, the number of electric vehicles on the road increased by nearly 100-fold, from 22,000 in 2011 to over 2,000,000 in 2021. Electric vehicle batteries rely on rare earth materials, for example, which must be sourced differently than traditional vehicle production materials. As Industry4.0
For instance, the 2011 earthquake and tsunami in Japan shut down electronics factories, and 2017’s Hurricane Harvey disrupted US oil refineries and petrochemical plants, ultimately leading to shortages of some plastics and resins critical to different industries. Surveys also suggest that digitization and an embrace of Industry4.0
Companies that may be concerned about the viability or performance of a supplier should consider seeking licenses or other rights that would enable to obtain vital components from another source if the supplier does not meet its obligations. Back to the Table of Contents Cybersecurity Threats in the Manufacturing Industry AUTHORS Aaron K.
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