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Description
The circular economy aims to reduce the amount of raw materials needed to make goods by good design choices, maximise the working life of goods by using quality, not throwaway, products and recapturing waste as raw materials to manufacture new materials and products. It encourages the use of renewable resources and aims to move away from the linear sales model of manufacture -\> single use -\> landfill.
A number of trends are driving companies to look at the circular economy.
* Climate change and carbon reporting - lower carbon products are in demand
* Resource scarcity - global resource and supply chain issues are causing supply issues
* ESG Reporting - companies seen to be doing the right thing are performing better
Suppliers are looking to move some of their supply chain over to circular principles. Our research suggests that forward looking B2B suppliers of capital goods - e.g. office furniture, plant, machinery and IT equipment are starting to position for the circular economy. They are looking at product as a service and the whole lifecycle of the goods they supply.
We plan to design and build a software tool that will help them to run their whole circular business lifecycle. Helping with the sales process, product management, lease management, end of life management and carbon / ESG reporting.
We foresee a growing demand for tools specific to the circular economy supply chain.
| The Boffin Lab Limited | LEAD_ORG |
| The Boffin Lab Limited | PARTICIPANT_ORG |
| Simon Hemington | PM_PER |
Subjects by relevance
- Circular economy
- Supply chains
- Products
- Sustainable development
- Logistics
- Product development
- Materials economy
- Recycling
- Green economy
- Product life cycle
- Material flows
- Enterprises
- Climate changes
- Ecological character
- Economy
Extracted key phrases
- Circular economy supply chain
- Codename Circularity
- Circular business lifecycle
- Good design choice
- Circular principle
- Low carbon product
- Supply chain issue
- Raw material
- Product management
- Capital good
- Single use -\>
- Supply issue
- Carbon reporting
- Life management
- Linear sale model