A Conceptual Framework for Optimizing Cost Management Across Integrated Energy Supply Chain Operations

• Author(s): Ebimor Yinka Gbabo ; Odira Kingsley Okenwa ; Possible Emeka Chima
• Paper ID: 1709046
• Page: 323-333
• Published Date: 31-03-2021
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 4 Issue 9 March-2021

Abstract

This paper proposes a comprehensive conceptual framework for optimizing cost management across integrated energy supply chain operations. Recognizing the complexity and interdependencies inherent in modern energy systems, the study synthesizes strategic cost management principles, supply chain integration theories, and energy sector-specific dynamics to ground the framework in robust theoretical foundations. The framework incorporates key cost elements, integration enablers such as digital technologies, and performance metrics within a dynamic, feedback-driven system that facilitates real-time decision-making and continuous improvement. By addressing cross-functional cost interdependencies and promoting alignment with broader strategic objectives—including sustainability, resilience, and profitability—the model provides a holistic approach to cost optimization. Practical implications highlight its adaptability to diverse energy subsectors and its potential to guide industry professionals in enhancing transparency, coordination, and agility. The paper concludes with suggestions for future empirical validation and integration of emerging digital tools, aiming to extend the framework’s applicability in evolving energy markets.

Keywords

Cost Management, Energy Supply Chain, Integrated Framework, Strategic Cost Optimization, Supply Chain Integration, Sustainability

Citations

IRE Journals:
Ebimor Yinka Gbabo , Odira Kingsley Okenwa , Possible Emeka Chima "A Conceptual Framework for Optimizing Cost Management Across Integrated Energy Supply Chain Operations" Iconic Research And Engineering Journals Volume 4 Issue 9 2021 Page 323-333

IEEE:
Ebimor Yinka Gbabo , Odira Kingsley Okenwa , Possible Emeka Chima "A Conceptual Framework for Optimizing Cost Management Across Integrated Energy Supply Chain Operations" Iconic Research And Engineering Journals, 4(9)