An Introduction to Circular Economy

Circular Supply Chain Management

Abstract

Modern supply chain management has been shifting away from the traditional linear supply chain model of “take-make-use-dispose” as it is not environmentally sustainable. The circular economy principle brings forth circular supply chain to cope with the ecological threats caused by the linear supply chain by addressing material circularity. The fundamental concept is to prolong material utilization and reduce material exploitation, while capturing and recreating new values of the products and services along the supply chain. This chapter describes the basic principles of circular supply chain, as well as different circular supply chain models. Various circular value creation guidelines are presented to encourage new circular businesses. Bio-base materials which follow a different cycle from the traditional industrial ones are examined. Different performance measures of circular supply chain to assess how well different parties in the circular supply chain have accomplished are introduced. Implementation strategies and various technologies for the future circular supply chain are also discussed.

Author

Charoenchai KHOMPATRAPORN
Vice Dean of Academic Affair, GMI
King Mongkut's University of Technology Thonburi

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