Strategic innovation in energy supply chains: Bridging efficiency and sustainability

Ehizele Dean Okoduwa * and Mohammed Lawal Giwah

Yale School of Management, New Haven Connecticut, USA.
 
Review
World Journal of Advanced Engineering Technology and Sciences, 2024, 13(01), 1089-1104.
Article DOI: 10.30574/wjaets.2024.13.1.0409
Publication history: 
Received on 29 July 2024; revised on 07 September 2024; accepted on 10 September 2024
 
Abstract: 
The energy sector is undergoing a transformative shift as it faces growing demands for both efficiency and sustainability. Strategic innovation in energy supply chains has emerged as a solution to address these challenges. This paper explores how innovative strategies, technologies, and practices are reshaping the energy supply chain to balance operational efficiency with environmental sustainability. The integration of digital technologies, such as big data analytics, Internet of Things (IoT), and artificial intelligence, has revolutionized energy management, optimizing resource allocation, improving energy production processes, and enhancing distribution. Additionally, the push for renewable energy sources and carbon reduction practices is fostering an environment where sustainability is integrated into every stage of the supply chain, from production to consumption. The paper also discusses the key drivers of strategic innovation, including regulatory pressures, consumer demand for greener alternatives, and technological advancements. By examining case studies and current trends, the paper highlights how strategic innovation is not only improving efficiency but also driving the energy sector towards a more sustainable future. The balance between these two factors is essential for achieving long-term energy resilience and reducing the global carbon footprint. Ultimately, this discussion underscores the importance of adopting a holistic approach to energy supply chain management that aligns economic, environmental, and societal goals.
 
Keywords: 
Energy Supply Chain; Strategic Innovation; Sustainability; Efficiency; Renewable Energy; Digital Technologies
 
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Copyright information: 
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0