Manufacturing can be a risky business, whether in terms of labor, industry regulation, financing or a host of other factors. However, the Industrial Internet of Things (IIoT)
and the growing reliance on automation and big data
have elevated cybersecurity to the top of manufacturing’s biggest risk factors.
A new report from BDO indicates that 92 percent of manufacturers cited cybersecurity concerns in their SEC disclosures this year. According to BDO, this represents a 44 percent increase compared to the first Manufacturing Risk Factor report in 2013. This report analyzes the 10-K filings of the 100 largest publicly traded US manufacturers.
Other high-ranking risk factors according to the report include federal, state or local regulations, labor concerns, underfunded pensions and increasing competition and consolidation in manufacturing. The full report can be found here.
For more information, check out the infographic below.
(Infographic courtesy of BDO