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Balancing Cost and Cyber Resilience in Procurement Strategies

🔒 Procurement teams frequently chase short‑term savings, consolidating suppliers and selecting the lowest‑cost vendors, which can create systemic cyber fragility. The article warns that cost-focused procurement often overlooks vendor security posture and incident readiness, leading to outsized losses in breaches, ransomware or supply disruptions. It recommends cyber due diligence, risk-tiering, minimum baselines (e.g., MFA, encryption, patching), resilience KPIs (MTTD, MTTR, RTO) and cross-functional governance to align cost with resilience. Strategic partnerships, scenario testing and cultural change convert procurement from bargain hunters into resilience builders.