The Circular Economy
The Circular Economy changes the fundamental ways in which we look at the use of materials and the concept of waste.
The current economic model of unfettered consumption is being tempered by the transition to the conservation of resources through the Circular Economy strategy. The Circular Economy is based on the premise that resources are finite and societies are not using resources efficiently or as effectively as possible.
The Circular Economy has significant implications for industry, consumers, and the public sector procurement strategies. Supply chains will be expected to adapt to a robust means of reusing materials rather than continuously harvesting raw materials. The long-term solution will require attention to designing products to be repurposed at the end of their useful life. With governments being a major player in the economy, such as infrastructure upgrades and investments, transportation systems and energy management, supply chain professionals will play an important role in having suppliers respond.
In the Circular Economy many suppliers are no longer selling goods but allowing customers to pay for what they use only. Consider that studies show most personal vehicles sit idle 90% of the time. With transportation, food and housing taking 60% of the average budget, the market opportunities are tremendous for buyers and sellers.
This eSeminar will introduce the key concepts of the Circular Economy and provide examples of how it is changing supply chains and stakeholder expectations.
- Develop awareness of business strategies to face resource scarcity
- Explore how biomimicry is creating efficiencies
- Review the transition in business from consumption to conservation
- Examine the role for supply chain professionals
- Differentiate strategic shifts in defining value
- Identify design-for-environment innovations to eliminate waste
Contact us to schedule your in-house session.