Enhancing Cyber Security Resilience in the Industrial Sector: A Comprehensive Framework for Third-Party Risk Management

Abstract

The objective of this study is to address the increasing cyberthreats in the industrial sector, particularly those originating from third-party links. The study aims to develop a comprehensive framework for effectively mitigating cyber risks in external relations, specifically through Third Party Risk Management (TPRM). This approach will increase the overall flexibility of industrial systems. In Saudi Arabian organisations, employees were asked to submit their responses related with the operation management division, especially in the domains of supply chain management, procurement, contracting, and IT. A total of 300 questionnaires were gathered, 215 of them being used for the analysis. The data was examined using Structural Equation Modelling (SEM) with Amos. The research findings offer valuable insights into the weaknesses and problems associated with third party engagements. The study centres on the industrial environment and disclose the key factors that significantly influence cybersecurity resilience. A thorough framework has been created to deal with risks discrepancies, draw attention to specific risks, and increase overall resilience based on these results. The part that deals with synthesis of this studies emphasize on the importance of immediate actions and practicing incident response as preventive tactics against cyber threats connected to third-party relationships. This framework focus on its development of a thorough and developing landscape of Third-Party Risk Management. The methodology contains the procedure for cutting down or avoiding an attack and the safety measures for any possible occurrence in the industrial sector. This new technique is applied in the sector so as to eliminate the threat that is proliferating; therefore, it is of great value to the domain.