This segment will provide you with insights into sustainable energy sourcing solutions and measures to implement them effectively.
Developing an energy procurement strategy for sustainable growth and development is as important as maintaining low cost efficiencies with the businesses involved into it. Energy consumption must be based on different efficiency measures regarding which, companies should work collaboratively with its value chains to drive energy efficiency improvements. By sourcing low carbon energy for all end uses including different processes may provide an integrated energy strategy which can prove to be tactful and worth productive measures to be implemented in this regard. Cross functionality and collaboration with your energy-related value chains to source sustainable energy for electricity, heating, cooling and transportation is something required by the energy sector on a priority basis.
An Integrated Approach
Energy sourcing requires much evaluation of the current trends and practices in comparison to future prospects. Define fresh Category strategy in alignment with Business objectives which can fulfill requirements related to energy consumption both in current and in future and it must also reflect your overall business objectives.
Considering the current and future demand for electricity, heating, cooling and transportation, the strategy must include a collaborative and performance-oriented approach towards all assets and functionalities to maintain them. The executive management, corporate strategy, risk management, risk management, finance and logistics must be involved into your strategy to make it fool-proof and future-proof as well.
Cross-Functionality
This refers to the collaborative efforts of all different processes including different functions and teams within a company. Cutting edge contracting and tendering models can also offer good platform for procurement processes and tendering models.
Considering all low carbon options in making decisions on capital investments for new assets and infrastructure. Getting equipped with a future plan for energy demand for future and sources to be approached in such conditions. Preparing a third-party financing module to accelerate implementation of energy solutions with upfront capital. Moreover, considering Joint Power Purchase agreements, community sharing schemes for renewable energies and storage networks to enable economies of scale, risk sharing, increased system efficiencies and innovation.
Evaluating Energy Suppliers
A good research on competitive energy suppliers will provide you with better options to price your energy requirements. Deploy cost intelligence philosophy and try its successful implantation in collaboration with your suppliers. Evaluating a large pool of vendors may be troublesome to be evaluated in terms of prices and on-time deliveries but still, checking with their background and clients record is no such difficult task to perform. Conduct data analysis to get a better understanding of influencing factors on rate and monitor the impact of price changes and usage to your budget. Keep the finance team regularly appraised with position reporting in case they need to make adjustments to the business plan.
Selecting a suitable partner and collaborating effectively
Assessing cost, carbon and other environmental impacts across the whole product/service life cycle will help to identify suitable partners and potential synergies that deliver the greatest cost and environmental impact reductions.Implementing an apt remuneration model to achieve desired contract performance will be possible only if your suppliers and other partners are collaborating with your strategies with a common goal to be achieved.
Moreover, collaboration with local partners who are already using similar technology will improve the ease and speed at which solutions can be designed and implemented. Looking for stakeholders which are open to transforming existing or developing new business models will enable you in developing new financing routes.New contracts to reflect new KPIs will also enable you to keep in track your contractual requirements and whether they are been met on-time or not.
Collaborating yields better results when all parties focus on outcomes as opposed to conformity with a specific method or business model, thus inviting more creativity on potential low-carbon energy solutions from stakeholders.
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