Current Volume 8
Advances in Cost Optimization Platforms for Agile Product Development and Resource Efficiency in Energy Sector Supply Chains
Abstract
The pursuit of cost optimization and resource efficiency in energy sector supply chains has become increasingly critical amid rising global energy demand, volatile market conditions, and ambitious sustainability targets. This paper explores the transformative potential of advanced digital platforms in enabling agile product development and operational efficiency across upstream and downstream energy systems. Beginning with a contextual analysis, the study underscores the growing importance of digital innovation in managing complex cost structures and supply chain disruptions. It then examines the application of cutting-edge technologies—such as digital twins, artificial intelligence, and blockchain—to improve predictive modeling, enhance procurement agility, and establish transparent, decentralized cost control systems. Furthermore, the paper evaluates how lean-agile frameworks, minimum viable product strategies, and cross-functional collaboration are redefining infrastructure development and innovation cycles within the sector. The integration of platform-enabled tools into supply chain operations—particularly in inventory, logistics, and scheduling—has demonstrated tangible improvements in energy use, waste reduction, and circular economy practices. Strategic implications are assessed in light of market competitiveness, regulatory alignment, and digital maturity, while also addressing persistent barriers including data fragmentation, cybersecurity, and organizational resistance. Finally, the study outlines future research directions, emphasizing the evolution of edge computing and autonomous systems, and the need for empirical validation of platform-driven cost efficiency. By offering a comprehensive framework, this paper contributes to the academic and practical understanding of how agile and technology-enabled approaches can sustainably reshape the energy value chain.
Keywords
Cost Optimization Platforms, Agile Product Development, Energy Supply Chain Efficiency, Digital Twins, Blockchain Transparency, Circular Economy in Energy
Citations
IRE Journals:
Jeffrey Chidera Ogeawuchi , Oyinomomo-emi Emmanuel Akpe , Abraham Ayodeji Abayomi , Oluwademilade Aderemi Agboola
"Advances in Cost Optimization Platforms for Agile Product Development and Resource Efficiency in Energy Sector Supply Chains" Iconic Research And Engineering Journals Volume 4 Issue 3 2020 Page 135-143
IEEE:
Jeffrey Chidera Ogeawuchi , Oyinomomo-emi Emmanuel Akpe , Abraham Ayodeji Abayomi , Oluwademilade Aderemi Agboola
"Advances in Cost Optimization Platforms for Agile Product Development and Resource Efficiency in Energy Sector Supply Chains" Iconic Research And Engineering Journals, 4(3)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
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