A Study on Vendor Management Cost Optimization in Wind Energy Procurement

This study examines vendor management and cost optimization in wind energy procurement at Pioneer Wincon. It analyzes key factors such as vendor selection criteria, supply chain risks, cost-reduction strategies, and the impact of GST on procurement costs. Using statistical analysis (chi-square, ANOVA, regression, correlation), the study finds that past performance and reliability are the most critical vendor selection factors. Major risks include price fluctuations, transportation delays, and quality issues. The study also explores the role of Letters of Credit (LCs) and digitalization (blockchain, AI, fintech) in procurement efficiency. Findings suggest strategies for cost reduction, improved supplier relationships, and streamlined procurement processes. These insights help enhance financial sustainability and supply chain resilience in the wind energy sector.