- What is the circular economy?
- What advantages does the circular economy offer for the manufacturing industry?
- What business strategies can the manufacturing industry adopt to implement circular economy solutions?
- What are enabling technologies related to the circular economy?
- What organizational changes are necessary to implement circular economy solutions?
Circular Economy Solutions for Modernizing Manufacturing
Circular economy solutions are often positioned as enabling manufacturers to achieve cost efficiencies and facilitate product innovation while reducing the carbon footprint of operations and products. The manufacturing industry faces increasing cost pressures and heightened risk exposure from commodity price volatility, customer preferences, regulatory environments, and geopolitical conditions. Circular economy represents both a challenge and an opportunity for the manufacturing industry. Companies should take advantage of the compelling strategic and operational benefits that circular economy principles offer.
Adopting a circular economy model represents a fundamental shift from a linear value system. It can increase manufacturers’ exposure to risks but presents an opportunity for positive economic growth combined with positive environmental social impact. This report outlines the fundamental concepts within the circular economy, details potential business strategies and practices that manufacturing companies can adopt, and provides recommendations for companies taking their initial forays in this area.
This Strategy Insight report by Navigant Research, a Guidehouse company, discusses circular economy solutions and their potential. The study details how circular economy solutions differ from other value product chains, and the strategic and operational advantages these solutions offer. It includes recommendations of business strategies and other operational changes. Increasing awareness of the various pathways to the circular economy best enables manufacturing companies to pick and choose the optimal approach.
- Manufacturing industry leaders
- Sustainability professionals
- Business Strategists
- Investor community
The Manufacturing Industry Is Moving Toward the Circular Economy
Defining the Circular Economy
Gaining the Strategic and Operational Advantages of the Circular Economy
The Circular Economy Prompts Changes to Business Models and Processes
Applying Circular Economy Business Strategies and Processes
Shifting Business Processes
Employing the Latest Technologies
Manufacturing Companies Must Focus on Effective Communication and Goal-Setting
Map Resource and Waste Flows
Establish Priorities and Ensure Accountability
Establish Tone from the Top
Engage Business Partners and Stakeholders
- Outline of the Circular Economy
- Potential Applicability of Circular Economy Measures for Six Groups of Societal Needs
- Inventory of Circular Economy Measures Related to the Supply Chain of Five Groups of Societal Needs