Issues and Vulnerabilities in Industrial control system4 answersIndustrial control systems (ICS) are facing increasing vulnerabilities and issues that pose a significant concern. These vulnerabilities provide potential adversaries with opportunities to exploit and attack unpatched ICS systems. Attack paths targeting unpatched system vulnerabilities and their impact on ICS are being investigated. Various types of attacks, such as Denial of Service (DoS), Buffer overflow, privilege escalation, and illegal command injection, are executed and their impacts are studied using threat modeling techniques. Recommendations are provided for security penetration testing and implementing security by design. Configuration parameters in ICS can be exploited by attackers to compromise system safety. Anomaly detection methods focusing on PLC programs or sensor signals lack comprehensive analysis of configuration's impact on the entire system. A verification-based framework called SmtConf is designed to detect and mitigate improper parameters in ICS at runtime. It provides real-time monitoring for safety violations caused by improper configuration and recommends safe configuration parameters. Safety Instrumented Systems (SIS) in ICS, which were traditionally considered independent of cybersecurity, are now vulnerable due to their connection with Distributed Control Systems (DCS). Security risk assessments and vulnerability measures are necessary to enhance the cybersecurity design of SIS. The integration of information technologies and operational technologies in ICS brings new threats and challenges. Existing vulnerabilities in hardware, software, and communication protocols need to be addressed to ensure the security of SCADA systems/ICS.
How do technological disruptions affect businesses?4 answersTechnological disruptions have a significant impact on businesses. These disruptions are changing the way people work, how supply chains operate, and how customers are approached. In the automotive retail industry, disruptive technologies such as connected, autonomous, shared, and electrification (CASE) are affecting the traditional business model, but strategic leverages can turn these risks into opportunities. Disruptive technologies also have positive and negative consequences. On the positive side, they enable the dematerialization of industrial processes and have less ecological impact, while on the negative side, they can lead to job losses, privacy concerns, and loss of human control over cyber systems. As a result of these disruptions, management education needs to transform to equip future managers with the necessary skills to navigate this changing landscape. Disruptive technologies have expanded business opportunities and changed the way industries operate, leading to growth in small-scale industries and an increased customer base.
What are the effects of supply chain disruptions on the overall performance of the industrial sector?4 answersSupply chain disruptions have significant effects on the overall performance of the industrial sector. Increases in shipping times lead to contractionary effects, higher prices, and increased stockouts, especially for goods that rely on delayed inputs. These effects are more pronounced when inventories are already low, as seen during the pandemic. Exposure to surprising disruptions negatively impacts firm performance, with minor disruptions having a direct negative effect and major disruptions being moderated by operational slack and supply redundancy. Barriers to measuring supply chain performance during disruptions include uncertainty of investment, disrupted cash flows, and the bullwhip effect. Proactive and reactive strategies should be considered to mitigate the impact of unexpected events on supply chain performance.
What are the economic implications of disruptions in the oil and gas industry?4 answersDisruptions in the oil and gas industry have significant economic implications. Oil spills, such as the Deepwater Horizon oil spill, can have enormous impacts on the local economy, including the labor market and job losses. The COVID-19 pandemic has also caused a nearly catastrophic impact on the industry, leading to a decline in production, revenue, sustainability, and net profits. Even before the pandemic, the industry was facing disruptions due to the energy transition phase and changing consumer habits. In Nigeria, oil supply disruptions have had negative consequences on the country's economy, as petroleum is a major source of foreign revenue. The economic damages from sudden oil supply disruptions can be significant, with studies showing a high probability of disruptions in key oil market regions. Overall, disruptions in the oil and gas industry can have far-reaching economic consequences, affecting employment, revenue, and overall economic stability.
What are disruptions that may impact supply chain resilience?5 answersDisruptions that may impact supply chain resilience include supply chain disruptions caused by shortages of raw material and products. Other disruptions include the devastating effects of events such as the COVID-19 pandemic and wars, which can disrupt the rhythm of any business and emphasize the need for resilience in supply chain operations. Additionally, shipping accidents and environmental disasters, such as typhoons, pose challenges to the reliability of maritime supply chains and can cause transportation perturbations and temporary supply bottlenecks. Extreme natural disasters and public health events can also lead to supply chain disruptions, and the impact of different network structures on supply chain resilience has been analyzed. These disruptions highlight the importance of managing risk, improving supply chain optimization, and increasing flexibility in supply chains to enhance resilience.
What are the key factors that affect response time to disruptions in supply chain?4 answersThe key factors that affect response time to disruptions in the supply chain include geographic distance, industry relatedness, and the number of firms affected by the same recall.Disruptions in the supply chain can be caused by various risks such as logistics limitations, transportation failures, and supply side issues.In order to effectively respond to disruptions, enterprises need agile and dynamic strategies that enable quick reactions and recovery of supply chain functions.Additionally, lessons learned from humanitarian supply chains can be applied to manage and mitigate supply chain disruptions, including the importance of preparedness, mobilization, standardization, innovation, and collaboration.Enhancing the resiliency of supply chains in the event of disruptions can be achieved through tools such as contingency planning, key indicators identification, and simulation.