Enhancing Procurement Strategies for Today's Information Technology Challenges

How are procurement and IT leaders addressing the growing challenges of cybersecurity in 2024?In this episode, Scott W. Luton is joined by Richard McVay, Senior Director and IT Telecom Subject Matter Expert at OMNIA Partners, to dive into the increasingly complex world of procurement technology and cybersecurity. With cyber threats like ransomware and third-party breaches on the rise, Richard shares how businesses can protect their operations while optimizing procurement strategies.The discussion covers real-world examples of how companies are leveraging advanced procurement tools to streamline processes, safeguard sensitive data, and improve decision-making. Richard also emphasizes the importance of bridging the gap between IT and procurement, the cost of running RFPs, and why aligning these functions is essential to staying competitive. Jump into the conversation:(00:00) Intro(04:26) What the OMNIA partners team does(16:57) The high costs of poor or unsuccessful solutions(22:45) Newer technologies permeating the procurement space(31:18) Cybersecurity threats that supply chain leaders need to be aware of(34:52) The range of cybersecurity solutionsAdditional Links & Resources:Connect with Richard: https://www.omniapartners.com/solutions/industry-experts/it-telecomBecome a member: https://www.omniapartners.com/get-started/membership/industryMaximizing Solutions with Group Purchasing Video: https://www.omniapartners.com/resources/videos/maximizing-it-solutions-with-group-purchasingHow purchasers can protect businesses from impending cyber threats blog post: https://info.omniapartners.com/resources/insights/how-purchasers-can-protect-business-from-impending-cyber-threatConnect with Richard on LinkedIn: https://www.linkedin.com/in/mcvayrichard/ Learn more about OMNIA Partners: https://www.omniapartners.com/ Connect with Scott: https://www.linkedin.com/in/scottwindonluton/ Learn more about Supply Chain Now: https://supplychainnow.com Watch and listen to more Supply Chain Now episodes here: https://supplychainnow.com/program/supply-chain-now Subscribe to Supply Chain Now on your favorite platform: https://supplychainnow.com/join Work with us! Download Supply Chain Now’s NEW Media Kit: https://bit.ly/3XH6OVk WEBINAR- Creating the Unified Supply Chain Through the Symbiosis of People and Technology: https://bit.ly/3XDtrejWEBINAR- Defending Your Business from Ransomware and Cyber Threats: https://bit.ly/4d0VGcfWEBINAR- End-to-End Excellence: Integrating Final Mile Logistics: https://bit.ly/3ZlpE7UWEBINAR- AI for SMBs: Unlocking Growth with Netstock's Benchmark Report: https://bit.ly/3AWtoCDWEBINAR- The ABCs of Cargo Security and Loss Prevention: https://bit.ly/3zAirpTWEBINAR- Future-Proof Your Logistics: AI-Powered Solutions for Competitive Edge: https://bit.ly/3BouB5EThis episode was hosted by Scott Luton and produced by Amanda Luton and Katherine Hintz. For additional information, please visit our dedicated show page at: https://supplychainnow.com/enhancing-procurement-strategies-todays-information-technology-challenges-1332