FACULTY’S INSIGHTS

Unlocking the Benefits of Energy Sharing Through Peer-to-Peer Trading

Introduction:

Energy sharing is an emerging trend and a significant development in the field of renewable energy. It is an innovative way to access and share clean energy, while also improving sustainability and reducing reliance on traditional energy sources. With the rise of peer-to-peer

(P2P) trading and other energy exchange models, it is now possible to facilitate energy sharing between households, businesses, and larger entities. This article will explore the concept of energy sharing and peer-to-peer trading, and discuss the benefits and opportunities that come with this novel approach.

Generating Energy using PV

PV systems use solar panels, which are collections of solar cells typically made of silicon and set on a rigid flat frame. Strings and arrays of solar panels are created by connecting solar panels in series and parallel, respectively. The quantity of DC that solar panels produce determines how good they are. Solar panels should be cleaned of any dirt, debris, or snow on a regular basis, and electrical connections should also be checked. Any shadow on a solar panel can considerably lower its power output since photovoltaics suffer from shade. Although a solar panel's performance will vary, it typically has a guaranteed power output life expectancy of between 10 and 25 years.

Introduction to Energy Sharing and Peer-to-Peer Trading

Energy sharing is the concept of transferring energy between entities or individuals, usually through a distributed energy system. It allows renewable energy sources, such as solar and wind power, to be shared among many users, making it easier for communities to access clean and affordable energy. Peer-to-peer trading, or P2P trading, is a type of energy sharing system that enables individuals to buy and sell energy from each other, without the need for a third-party intermediary. It is an innovative approach to energy exchange, which has become increasingly popular over the last few years.

Benefits of Energy Sharing

The benefits of energy sharing are numerous. One of the key advantages is that it allows individuals toaccess clean energyat alowercostthantraditionalsources. It also encouragestheuseofrenewable energy sources, which can help reduce carbon emissions and improve sustainability. Additionally, energy sharing enables households and businesses to trade excess energy, which can help reduce energy costs and provide an additional source of income. Finally, energy sharing can help to create a more connected and collaborative community, as it encourages individuals to cooperate andshare resources.

The Basics of Peer-to-Peer Trading

Peer-to-peer trading is a relatively simple concept. It involves individuals or businesses acting as buyers and sellers of energy, without the need for a third-party intermediary. In order for it to work, users must have access to a platform that facilitates the exchange of energy. These platforms usually use blockchain technology to ensure that all transactions are secure and transparent. Once a user has signed up to a platform, they can then look for energy buyers or sellers. The seller can set the terms of the transaction, such as the price and the amount of energy to be exchanged. Once a buyer and seller have agreed on the terms, the transaction can take place. The buyer then pays the seller directly, with the platform taking a small fee as payment.

Understanding How to Sell Solar Energy

Selling solar energy is an increasingly popular way to make money when it comes to peer-to-peer trading. Solar energy is a free and renewable energy source, and can be used to generate electricity for households and businesses. In order to sell solar energy through a peer-to-peer platform, users must first have access to a solar panel system. Once the system is installed, users can then connect it to the platform and begin selling their excess energy.

Peer-to-Peer Energy Trading Platforms

There are a number of platforms available that enable individuals and businesses to engage in peerto-peer energy trading. These platforms use blockchain technology to ensure that all transactions are secure and transparent. Additionally, the platforms provide users with access to real-time energy data, allowing them to make informed decisions about their energy purchases. Some of the most popular platforms include Power Ledger, Sun Exchange, and SolarCoin.

Case Studies of Peer-to-Peer Energy Trading

In order to gain a better understanding of peer-to-peer energy trading, it is important to look atrealworld examples. One such example is the Brooklyn Microgrid, a community energy sharing platform that allows local energy users to trade energy with one another. Additionally, the city of Singaporehas recently implemented apeer-to-peer energytrading platform to help reduce electricity costs and encourage the use of renewable energy sources.

Renewable Energy Trading and the Future of P2P

Peer-to-peer energy trading has the potential to revolutionize the way we access and use energy.As the technology continues to develop, it is likely that more and more individuals, businesses, and municipalities will begin to engage in energy trading. As a result, it is expected that renewable energy sources, such as solar and wind power, will become increasingly commonplace.

The Benefits of Enabling Peer-to-Peer Trading

Peer-to-peer trading has a number of benefits for energy users. It provides an efficient and costeffective way to access clean and affordable energy, while also reducing reliance on traditional energy sources. Additionally, it encourages collaboration and energy sharing between individuals andbusinesses,creatingamoreconnectedandsustainablecommunity. Finally, it enablesindividuals to generate additional income by selling their excess energy, further incentivizing the use of renewable energy sources.

Conclusion

Energy sharing and peer-to-peer trading are two innovative approaches to accessing and sharing energy. They provide an efficient and cost-effective way to access clean energy, while also encouraging collaboration and sustainability. As the technology continues to evolve, it is expected that more and more people will take advantage of these opportunities, helping to further reduce our reliance on traditional energy sources.re individuals, businesses, and municipalities will begin to engage in energy trading, unlocking the full potential of energy sharing. With the rise of peer-topeer trading, it is now possible to facilitate energy sharing between households, businesses, and larger entities. This article has discussed the concept of energy sharing and peer-to-peer trading, and explored the benefits and opportunities that come with this novel approach.

About author

Dr. Manish Kumar completed his B.Tech in Mechanical Engineering from Biju Patnaik University of Technology, Orissa, India, in 2011 and M.Tech in Industrial Engineering and Managementfrom Indian Institute of Technology (Indian School of Mines), Dhanbad, India, in 2013. He obtained his PhD in Industrial Management from Indian Institute of Technology (Banaras Hindu University), Varanasi, India, in 2017.

He is currently working as an Assistant Professor in Operations & IT Department at ICFAI Business School, Hyderabad, India. Before that he worked under the central government (MHRD-NPIU) project as an Assistant Professor in Mechanical Engineering Department at Bhagalpur College of Engineering, Bhagalpur, India. He has published a number of research papers in peer reviewed journals and conferences, and also he has successfully completed two MHRD sponsored projects. His areas of interest include Energy Policy, Energy Economics, Optimization and Decision Science

Mr. Sumeet Jain

Hotstuff Events and Repro Pvt

Logistics Management: How It Can Help Your Business Gain a Competitive Edge

Logistics management is a complex but essential process for businesses looking to gain a competitive edge. It involves the coordination of resources, people, and information to ensure that goods and services are delivered efficiently and on time. By streamlining this process, businesses can reduce costs, increase customer satisfaction, and maximize profits. Logistics management not only helps you stay ahead of the competition, but it also allows you to focus on what you do best: providing the highest quality products and services to your customers. By developing an effective logistics management strategy, businesses can ensure that their clients receive their orders on time, in the desired condition, and at the lowest possible cost. This will give them the edge they need to stay ahead of the competition and succeed in their respective industries.

What is logistics management?

Logistics management is the process of planning and executing the flow of goods and services between the point of origin and the point of consumption. It is also referred to as supply chain management, distribution management, or transportation management. While logistics management can be looked at as a single process, it is actually a network of interrelated disciplines, such as procurement, inventory management, production planning, distribution, inventory control, warehousing, and transportation scheduling. Logistics management is a critical component of any business’s operations. It covers all aspects of the supply chain, from procurement to delivery, to ensure that products are delivered as efficiently and cost-effectively as possible. This includes managing inventory, making sure that production is maximized and does not exceed demand, and reducing supply chain costs through effective transportation management.

Benefits of logistics management

1. Improved customer satisfaction - Customers are more likely to remain loyal to a company that provides reliable, consistent service. A logistics management strategy can improve customer satisfaction, helping your business to retain its current customers and acquire new ones.

2. Reduced costs - By streamlining your logistics management strategy and operations, you can reduce your costs across the board, which can be a significant competitive advantage.

3. Increased sales - You can increase sales by optimizing supply chain operations, including inventory management and transportation schedule.

4. Competitive edge - A logistics management strategy that is designed to maximize efficiency can give your business a competitive edge over your competitors. This is especially true if you specialize in a niche industry that requires precise delivery of products or services.

5. Improved employee morale - By improving operations and logistics, you reduce the amount of stress that your employees face on a daily basis. This can improve their morale and reduce employee turnover, which can cost your business money.

6. Reduced supply chain risks - A well-managed logistics management strategy reduces supply chain risks and liabilities. It also allows your business to minimize the amount of money and other resources that are tied up in inventory.

7. Opportunity for growth - A streamlined logistics management strategy can give your business the opportunity for growth that it has been looking for, allowing you to take on larger contracts and increase revenues.

8. Improved image - Customers are more likely to view your business as reliable and trustworthy when you have a streamlined logistics management strategy in place. This can help to improve your company’s image.

Elements of effective logistics management

1. Inventory management - Having the right amount of inventory on hand is crucial to the success of your business. Having too much inventory tied up in goods that will not be sold can result in decreased profits or even losses. If a customer orders a product that your business does not have in stock, you may not be able to fill the order. Conversely, having too little inventory available can cause problems and negatively affect your bottom line.

2. Production planning - Production planning is the process of forecasting demand and determining how much product you need to produce. This is often referred to as the “production forecast.” The production forecast is an essential element of logistics management because it is tied to inventory management.

3. Distribution - The process of getting your goods from the point of production to the point of sale or distribution to customers. Having an effective distribution system in place will allow you to minimize transportation costs and maximize efficiency.

4. Transportation scheduling - Transportation scheduling refers to the process of choosing which transportation methods to use and when to use them.

5. Warehouse management - Warehouse management refers to the process of selecting a warehouse location, staffing the warehouse, and ensuring that the warehouse is well stocked with inventory.

Developing an effective logistics management strategy

1. Find and understand the weak points in your current logistics management strategy. You can do this by conducting an audit of your current system. Once you have identified the weak points, you can begin to develop a strategy to correct them.

2. Focus on the long-term goals and objectives of your business. Look to expand your business and make sure that it has the capacity to succeed over the long term.

3. Identify your core competencies. This will help you identify what your business does best and what it is most knowledgeable about so that you can focus on those areas.

4. Partner with logistics management specialists. Working with logistics management specialists can help you to develop an effective strategy and keep your business on track to success.

5. Develop an implementation plan. A well-developed plan will help you to avoid the mistakes that can be made when developing a strategy without a plan.

6. Follow through and revise as needed. Once your logistics management strategy is in place, follow through with it and make necessary revisions where needed. This will help you to make the most of your strategy and put your business on the path to success.

The importance of customer service in logistics management

Customer service is a key component of logistics management. It is important to establish a good relationship with your customers from the moment they initiate contact with your business until the delivery of their product. Establishing trust and confidence in your business and products is crucial to building a successful customer base. This can be accomplished by offering prompt responses to customer inquiries, shipping products on time, and providing exceptional customer service. The quality of the products that you ship and the time frame in which you ship them have a significant impact on customer satisfaction. Shipping products on time and in the condition that they are promised can go a long way toward building trust and gaining customer loyalty. There are various tools and technologies that can be used to improve customer service in logistics management. These include tracking systems, communication apps, and customer service software.

Automation and technology in logistics management

Automation can reduce the amount of human error in operations, such as inventory management, distribution, and transportation schedule. It can also help to increase productivity and reduce the amount of time that certain tasks take to complete. This can help to improve customer service by reducing the number of errors and improving the speed with which orders are fulfilled. Technology can also help to increase fleet utilization by monitoring driver and vehicle performance. The use of technology in your logistics management strategy can improve customer service. It can also be used to improve your company’s image. The use of technology also allows you to have better control over your operations, which can help to reduce costs. This can be especially helpful for businesses that offer low-cost items.

Logistics management software

Logistics management software is computer software used to manage logistics and other aspects of supply chain management. It includes tools for collaboration, capacity planning, customer relationship management, inventory control, warehouse management, transportation schedules, and more. Logistics management software can be integrated with other software to create anend-to-end solution for your business. This software can help to improve collaboration, improve customer service, and reduce costs. If your business is involved in the supply chain whether it’s importing or exporting goods or selling products online then you need logistics management software to keep things running smoothly. Logistics management software is used to manage the flow ofgoods and information throughout your supply chain. Using this software, you can manage inventory, track shipments, and communicate with customers.

About author

Sumeet Jain graduated with a BCom from SN College in Mumbai. Having worked in the events sector for more than ten years, he has perfected his crisis management, operations, major vendor management, etc. abilities. He has worked with Inch by Inch Productions Pvt Ltd, NeoNiche Integrated Solutions Pvt Ltd, and Robust Events. He is now the HOD-Events at Hotstuff Eventsand Repro Pvt Ltd.

Ms. Xingxing Deng

HUL, South Asia

Supply chain analyst

Thoughts about Supply chain predictability for globalized manufacturing

This is thoughts from myself, based on what has happened in the world and experience how management assess the risks and make decision to bring great value to supply chain resiliency strategy.

Supply chain resiliency

Why resiliency?

Supply chain flexible (agile mindset) to delight our customers all over the world. The concept of supply chain resiliency is a strategy being “promoted” in manufacturing companies for at least decade. Over years, acquisition becomes quicker, as well as deliver more high-tech products to align with rapid market growth in most aspects of digitalized lifestyles. I would say that there has been some effort to many companies to optimize supply chain process through upgrade enterprisesystem to tackle purchasing- production-distribution. Peak demand due to Covid19, pushing companies starting to think about build more predictability supply-demand model to minimize supply chain disruption which results in significant cost impact and line downs (various supply chain articles you would get some indicative figures.)

Manufacturing process globalized

Globalised manufacturing is not something new things to talk about. We see benefits to developed countries in terms of overall economy impact and specialised talents for certain specific product required. Factory in economic zones to reduce duty/tax etc.

Today company face challenges on competition on subcontracted capacity and high turn over rate on manpower. Just to image, with inaccurate forecasts (let us say overestimated), the subcontracted components still haveto bemanufactured as percontracts, thoseexcess portion will stayas inventory cost(this part of costs have a risk to become a slow moving parts, with associated operation costs to be paid for nothing, I would say the value could be vital).

Every forecast has its risks (for operation, it is even more challenge, especially if it outsourced), and what we need to think is to how to minimize it. This deep dive on process is essential, especially when there is complexed production process and business rules being defined due to acquisition.

Distribution centre – centralization, decentralization

Locations are what company think of distribution strategy. Customers(consumers) are globalized regardless of B2B, B2C. Supply chain people would start to target based on where its customers stay and build up its distribution centre, this might be close factory itself or close to subcontractors or even isolated. With those options in mind, company starts to worry, shall I build one master DC (distribution centre) or multiple DCs? is there a need to automate the receiving- shipping process when volume increase? Etc.

So next step is to think about how we can make a predictable decision on short term/ long term decision on DC (let us say it is outsourced warehouse with reliable license) option? Current volume, future volume, operation supporting costs (equipment, manpower, building rental, management fee, warehousing fee. etc). potentially, without predictable data/ information, it would result in loss in investment on DC strategy.

Political at regional level, country level

Nature of manufacturing globalization is unavoidable to be impacted by regulatory. BREXT, China /US cold war, as well as custom regulatory changes, etc.

You just simply can’t send over your product if your supply chain footprints are covered in those countries. So, next question would be, do we have alternative right now? and can I get to know the potential impact on overall now? furthermore, interconnective among countries also bring unforeseen rising on supply chain disruption.

Disaster or Natural disaster

Covid 19 teaches a lesson to the whole world that digitalization is an unstopped trending to use alternative solution to live daily and adjusted to this new Norm.

Ukraine war (ongoing) happen, which is a definite loss in some customers and company itselfreally can’t do anything about that. I believe that manufacturing company also learned a lesson on supply chain risks mitigation.Apart from direct customerdemandand operation cost loss. Evendrivefurther fuel pricing raising for nine months (it is still a variable cost factor)

Afterall, how is the impact? what else can we do to recover quicker from loss from supply chain perspective?Adecisionurgetobemadewhichdrivemanycompaniesstartto thinkofanalyticsupply chain to be able to visualize the impact and make a data driven decision.

Industrial 4.0

Basically, this is an automated processes solution by connecting different platforms to centralize supply-demand process, beneficial to management to get alive supply chain information, therefore they can really see supply chain is healthy or not. Process experts/analyst would be able to visualize potential impact on backlog.

Manufacturing companies started to realise how significant to make a data driven decision as well as optimize (or simplify) operation process. This is a new way of thinking about how to manage supply chain to keep competitive in the industry.

Stilllong way to go formanufacturing companies for changing mindset managing supply chain. New tools we are using won’t be replacing human(talent) thinking completely, it has the same logic on how our logic works, which shows high value in generic or standardized logic impose. Companies still need people to really think out of box and summarize insights from data they see, therefore finding opportunity to enable changes. So as supply chain professional, new skills to be required acquired are “playing” analytic tool, complex data analysis, process analysis, creativity thinking, industrial knowledge.

Supply chain predictability with logistics

Logistics act as fundamental components to connect all chains. Quicker and faster is the KPI to measure turn over. Mostly we want to know when the components ship, when to arrive, any potential delay or missing shipment would result line down or sales order unfulfilled as promised. Companies are ready to enter generation of industrial revolution, investing new way to manage supply chain (industrial 4.0). In my opinion, manufacturing industry is mature, the next focus is to mitigate interconnected risks.

About Author:

Xingxing Deng, A versatile and skilled professional with excellent hands-on experience in Logistic/Supply chain management, experienced in Material management and warehouse management. An assertive person with outstanding interpersonal, negotiation and people management skill.