Deloitte Report: ‘Electric Power Supply Chains: Achieving Security, Sustainability, and Resilience’

A study entitled “Electric Power Supply Chains: Achieving Security, Sustainability, and Resilience” has been released by Deloitte India. Operations in the majority of businesses have been impacted by several supply chain interruptions over the past two years. The electric power industry is also not an exception. Even before the recent disruptions brought on by the pandemic and the Russian invasion of Ukraine, the industry was battling several difficulties inside its supply chain networks.

These hiccups, which include logistical bottlenecks, a lack of raw materials and components, and a labor shortage, have led to an increase in costs and a dearth of necessary electric supplies. They have also widened the gap between supply and demand for electrical machinery and parts, which has slowed the transition to clean energy. As a result, a lot of electric power and renewable energy companies are reviewing their supply chain strategies and restarting their supply chain risk management methodology—and their boards are increasingly expecting it.

Some companies are incorporating supply chain management more deeply into their business planning and working with supply chain managers in the capital planning process. To ensure resilience in the face of upcoming disruptions, they are working to create supply chains that are more secure and sustainable while also managing third-party risk.