Version 1
: Received: 24 May 2024 / Approved: 24 May 2024 / Online: 27 May 2024 (07:59:15 CEST)
How to cite:
Reynolds, S. Exploring Supply Chain Resilience Strategies in the Face of Price Inflation in Renewable Energy Markets. Preprints2024, 2024051662. https://doi.org/10.20944/preprints202405.1662.v1
Reynolds, S. Exploring Supply Chain Resilience Strategies in the Face of Price Inflation in Renewable Energy Markets. Preprints 2024, 2024051662. https://doi.org/10.20944/preprints202405.1662.v1
Reynolds, S. Exploring Supply Chain Resilience Strategies in the Face of Price Inflation in Renewable Energy Markets. Preprints2024, 2024051662. https://doi.org/10.20944/preprints202405.1662.v1
APA Style
Reynolds, S. (2024). Exploring Supply Chain Resilience Strategies in the Face of Price Inflation in Renewable Energy Markets. Preprints. https://doi.org/10.20944/preprints202405.1662.v1
Chicago/Turabian Style
Reynolds, S. 2024 "Exploring Supply Chain Resilience Strategies in the Face of Price Inflation in Renewable Energy Markets" Preprints. https://doi.org/10.20944/preprints202405.1662.v1
Abstract
The renewable energy sector plays a pivotal role in addressing climate change and achieving sustainable development goals. However, the sector faces challenges related to price inflation and supply chain disruptions, which can impede its growth and resilience. This qualitative research explores supply chain resilience strategies adopted by companies in the renewable energy sector to mitigate the impact of price inflation and disruptions. Through semi-structured interviews with key industry stakeholders, the study identifies several key themes. Supplier diversification emerges as a crucial strategy for mitigating risks associated with geopolitical tensions and trade restrictions. Inventory management plays a pivotal role in ensuring continuity in operations amidst supply chain disruptions, with a focus on optimizing inventory levels of critical components. The adoption of digital technologies offers significant potential for enhancing supply chain visibility, transparency, and responsiveness, although integration challenges remain. Collaboration and partnerships within the industry are essential for sharing resources, knowledge, and best practices, fostering innovation and collective problem-solving. Sustainable practices are integral to supply chain resilience, aligning with broader industry trends towards environmental stewardship and social responsibility. Overall, the findings highlight the multifaceted nature of supply chain resilience in the renewable energy sector and the interconnectedness of various strategies and practices. Moving forward, companies must adopt a proactive and adaptive approach to supply chain management, integrating these strategies and practices into their operations to navigate uncertainties and drive sustainable growth. This study contributes to the understanding of supply chain resilience in the renewable energy sector and provides valuable insights for industry stakeholders, policymakers, and researchers.
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
