Group 5 Synopsis Sustainable

Synopsis on
STRATEGIES FOR REDUCING RISK IN THE

RENEWABLE ENERGY SUPPLY CHAIN OF SUZLON
ENERGY
FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT

FOR THE AWARD OF
MASTER OF BUSINESS ADMINISTRATION
UNDER THE GUIDANCE OF

Asst. prof. Sumeet Bhatia
Submitted By
Smradhi Pandey 22GSOB2010112
Vinit Kumar 22GSOB2010234
Sourav Singh Solanki 22GSOB2010235
Amit Bhati 22GSOB2010217
Ashutosh Palai 22GSOB2040025
MBA 2022-24
1
ABSTRACT
Suzlon Energy faces various risks in its renewable energy supply chain, including supplier failures, supply
shortages, and market fluctuations. To mitigate these risks, the company can adopt several strategies. Firstly,
Suzlon should establish a robust supplier selection and management process, focusing on financial stability,
manufacturing capabilities, and quality standards. Diversifying the supplier base and localizing the supply
chain can reduce dependency on single sources and mitigate risks associated with specific regions or suppliers.
Effective inventory management practices and leveraging digital technologies such as predictive analytics
enhance supply chain visibility and resilience. Prioritizing sustainability and ethical sourcing practices ensures
compliance with regulations and mitigates reputational risks. By implementing these strategies, Suzlon Energy
can strengthen its supply chain, reduce risk exposure, and deliver reliable and sustainable energy solutions to
customers globally.
NEED FOR STUDY
The need for the study of strategies to reduce risk in Suzlon Energy's renewable energy supply chain is
paramount for several reasons.
1. Suzlon Energy operates in a rapidly evolving industry with complex global supply chains. As renewable
energy becomes increasingly central to the global energy transition, ensuring the reliability and resilience of
its supply chain is critical for Suzlon's competitiveness and sustainability.
2. The renewable energy sector is subject to various risks, including supply shortages, price volatility,
geopolitical instability, and regulatory changes. These risks can significantly impact Suzlon's operations,
profitability, and ability to meet customer demand.
3. Given the long lead times and capital-intensive nature of renewable energy projects, any disruptions in the
supply chain can lead to project delays, cost overruns, and damage to Suzlon's reputation. Therefore,
understanding and mitigating these risks are essential for maintaining investor confidence and securing future
investments.
4. The renewable energy market continues to grow, competition among industry players intensifies.
Implementing effective risk management strategies can provide Suzlon with a competitive advantage by
enhancing its ability to deliver reliable and cost-effective renewable energy solutions to customers.
2
REVIEW OF LITERATURE
To provide a literature review for the strategies outlined for reducing risk in Suzlon Energy's renewable energy
supply chain, it's important to consider academic and industry sources that discuss supply chain risk
management and renewable energy sector-specific challenges. Here's a brief overview of potential themes and
relevant studies:
1. SUPPLIER SELECTION AND MANAGEMENT:

Academic research often emphasizes the importance of robust supplier selection and management
processes in mitigating supply chain risks. Studies such as "Supplier Selection Criteria and Methods:
Past, Present and Future" by Ho et al. (2010) provide insights into various criteria and methodologies
for evaluating suppliers.
Within the renewable energy sector, research may focus on specific challenges related to sourcing
components like wind turbine parts or solar panels. For example, "Critical success factors for wind
power projects: a project lifecycle perspective" by Hildrum and Soderholm (2010) could offer
insights into supplier selection criteria specific to wind energy projects.
2. DIVERSIFICATION OF SUPPLIER BASE:

Academic literature often discusses the benefits of supplier diversification in reducing supply chain
risks. "Supplier Portfolio Management" by Wagner and Bode (2006) explores strategies for
managing supplier portfolios to improve supply chain robustness.
In the context of renewable energy, studies may examine the challenges of depending on a limited
number of suppliers for critical components. Research like "Supply Chain Management in the
Photovoltaic Industry: A Review" by Chien and Shih (2007) could provide insights into supplier
diversification strategies in the solar energy sector.
3. INVENTORY MANAGEMENT PRACTICES:

Inventory management is a critical aspect of supply chain risk management. Studies such as
"Inventory Management in Multi-Echelon Supply Chains: A Review" by Tayur et al. (1998) offer
comprehensive reviews of inventory management practices and their impact on supply chain
performance.
3
While specific literature on inventory management in the renewable energy sector may be limited,
research on supply chain dynamics in manufacturing industries could provide relevant insights
applicable to Suzlon Energy's operations.
4. DIGITAL TECHNOLOGIES FOR SUPPLY CHAIN RESILIENCE:

The role of digital technologies in enhancing supply chain resilience is a growing area of research.
"Digital Supply Chain: An Introduction" by Gunasekaran et al. (2017) provides an overview of
digital technologies and their potential impact on supply chain management.
In the context of renewable energy, studies may explore the use of IoT, blockchain, and predictive
analytics to improve supply chain visibility and responsiveness. Relevant research could include
"Blockchain Technology Adoption in Supply Chain Management: An Insight into Supply Chain
Visibility" by Ivanov et al. (2019).
5. SUSTAINABILITY AND ETHICAL SOURCING PRACTICES:

Sustainability and ethical sourcing practices are increasingly important considerations in supply
chain management. "Sustainable Supply Chain Management: A Literature Review" by Seuring and
Müller (2008) offers a comprehensive review of sustainable supply chain management practices.
Within the renewable energy sector, research may focus on the environmental and social impacts of
supply chain activities. Studies such as "Sustainability in the Global Wind Industry: A Review" by
Sovacool and Watts (2009) could provide insights into sustainable practices in wind energy supply
chains.
RESEARCH AND METHODOLOGY
Researchers likely reviewed academic literature on supply chain management, risk management, and
renewable energy industry trends. This would include studies on supplier selection, diversification, inventory
management, digital technologies in supply chain management, and sustainability practices.
INDUSTRY REPORTS:
Accessing industry reports from reputable sources such as market research firms, industry associations, and
financial institutions provides valuable insights into current trends, challenges, and opportunities in the
4
renewable energy sector. These reports would include analysis of supply chain risks specific to renewable
energy companies like Suzlon Energy.
CASE STUDIES:
Examining case studies of other renewable energy companies or companies in similar industries that have
successfully implemented risk mitigation strategies in their supply chains can provide practical insights and
lessons learned. Case studies offer real-world examples of how different strategies have been implemented
and their outcomes.
BENCHMARKING:
Comparing Suzlon Energy's supply chain practices with those of industry peers and competitors can help
identify areas for improvement and best practices to emulate. Benchmarking against leading companies in
renewable energy or broader manufacturing industries can inform strategy development.
DATA ANALYSIS:
Analysing historical data on Suzlon Energy's supply chain performance, including supplier relationships,
inventory management, and risk incidents, can help identify patterns, trends, and areas of vulnerability. This
data-driven approach informs evidence-based decision-making and prioritization of risk mitigation efforts.
REFERNCES
https://energsustainsoc.biomedcentral.com/articles/10.1186/s13705-019-0232-1
https://www.sciencedirect.com/science/article/pii/S2949753122000066
https://www.google.com/search?q=STRATEGIES+FOR+REDUCING+RISK+IN+THE+RE
NEWABLE+ENERGY+SUPPLY+CHAIN+OF+SUZLON+ENERGY&rlz=1CDGOYI_enI
N1079IN1080&oq=STRATEGIES+FOR+REDUCING+RISK+IN+THE+RENEWABLE+E
NERGY+SUPPLY+CHAIN+OF+SUZLON+ENERGY&gs_lcrp=EgZjaHJvbWUyBggAEE
UYOdIBBzk4MGowajeoAhWwAgHiAwQYASBf&hl=en-GB&sourceid=chrome-
mobile&ie=UTF-8
https://www.suzlon.com/in-en/end-to-end-solutions

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Synopsis on

STRATEGIES FOR REDUCING RISK IN THE

FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENT

UNDER THE GUIDANCE OF

NEED FOR STUDY

1. SUPPLIER SELECTION AND MANAGEMENT:

2. DIVERSIFICATION OF SUPPLIER BASE:

3. INVENTORY MANAGEMENT PRACTICES:

4. DIGITAL TECHNOLOGIES FOR SUPPLY CHAIN RESILIENCE:

5. SUSTAINABILITY AND ETHICAL SOURCING PRACTICES:

RESEARCH AND METHODOLOGY

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