Optimizing supply chain management in the energy sector: Strategies for enhancing efficiency and sustainability
1 Independent Researcher, Nigeria.
2 The Shell Petroleum Development Company, Port Harcourt, Nigeria.
3 Shell (Den Haag, Netherlands).
4 Independent Researcher, Nebraska, USA.
Review
International Journal of Multidisciplinary Research Updates, 2021, 02(01), 023–041.
Article DOI: 10.53430/ijmru.2021.2.1.0042
Publication history:
Received on 05 September 2021; revised on 12 November 2021; accepted on 15 November 2021
Abstract:
Optimizing supply chain management in the energy sector is essential for achieving operational efficiency, cost-effectiveness, and sustainability in a rapidly evolving global market. The dynamic nature of energy supply chains, driven by fluctuating demand, geopolitical factors, and environmental concerns, necessitates innovative strategies to maintain resilience and adapt to emerging challenges. This study explores advanced methodologies for optimizing supply chain management within the energy sector, focusing on enhancing efficiency and promoting sustainability. Key strategies identified include the integration of digital technologies, such as blockchain, Internet of Things (IoT), and artificial intelligence (AI), which enable real-time data monitoring, predictive analytics, and improved decision-making. Additionally, adopting circular economy principles, such as resource recovery and recycling, fosters environmental sustainability while reducing costs. The research emphasizes the importance of supplier collaboration and diversification to mitigate risks associated with market volatility and geopolitical uncertainties. Furthermore, implementing energy-efficient logistics, such as green transportation and warehousing solutions, significantly minimizes carbon footprints. The study also highlights the critical role of regulatory compliance and policy alignment in achieving long-term sustainability goals. It underscores the necessity of incorporating renewable energy sources into supply chain operations to reduce dependency on fossil fuels and align with global decarbonization efforts. Stakeholder engagement, including partnerships with local communities and non-governmental organizations, is identified as a key factor in fostering transparency and trust. Case studies from leading energy companies demonstrate the effectiveness of these strategies in reducing operational bottlenecks, enhancing resource utilization, and improving overall supply chain performance. The findings contribute to a holistic framework for energy companies aiming to balance economic growth with environmental stewardship.
Keywords:
Supply Chain Optimization; Energy Sector; Sustainability; Efficiency; Digital Transformation; Circular Economy; Renewable Energy; Green Logistics; Stakeholder Engagement; Regulatory Compliance.
Full text article in PDF:
Copyright information:
Copyright © 2021 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0