Archive for June 2024

In the business world, the terms “purchasing” and “procurement” are often used interchangeably. However, they represent distinct functions within the supply chain that are essential for the efficient operation of an organisation. Understanding the difference between purchasing and procurement can help businesses optimise their processes, reduce costs, and enhance their strategic capabilities. What is Purchasing?…

As the world shifts towards renewable energy, addressing the inherent volatility of these resources becomes paramount. Solar radiation and wind speeds, the primary sources of renewable energy, are naturally intermittent, leading to fluctuations in power generation. Effective management of these variations is crucial for the expansion of renewable energy and for maintaining the stability and…