| |June 20199oil prices, major world economies are continuously thriving to be prepared for the unexpected. With these uncer-tainties, procurement function would be at the forefront of an organiza-tion for risk minimization. Procure-ment in 2019 will have to remain at the top when it comes to minimizing the supply chain costs. It will require bringing in innovation and technolo-gy interference to save costs wherever necessary. Moreover, organizations are always struggling from internal risks arising due to lack of transparen-cy. Being compliant with legal stand-ards is just not enough these days. Effective Change Management: Procurement leaders have time and again agreed change management be-ing the biggest roadblocks in achiev-ing the outlined procurement goals. With the advent of digital technolo-gies, the transactional work in a pro-curement function is becoming au-tomated. As a result, the extra time available due to automation can be deployed by resources in more stra-tegic activities that a business needs. But the transition to change manage-ment is not easy, as it brings a sense of insecurity about the end state and hence resistance to undertake new initiatives. In 2019, more organiza-tions will focus on a smooth change management plan through increased focus on regular communication with the employees; engage them through the process and by providing ad-equate training and support. So to conclude, with the increas-ing expectations from procurement, we'll continue to see it deliver on traditional cost savings while focus-ing heavily on digital technologies and supplier synergies. Overall, 2019 seems like a promising year full of challenges and opportunities for pro-curement to undertake. With the increasing expectations from procurement, we'll continue to see it deliver on traditional cost savings while focusing heavily on digital technologies and supplier synergies. Overall, 2019 seems like a promising year full of challenges and opportunities for procurement to undertake
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