Challenges for The Circular Economy in Manufacturing

DOI:10.34047/MMR.2020.10106

Abstract

The introduction of the circular economy (CE) in production, minimizing waste, maximizing resource use, reducing environmental impact, conservation, and safety for society. The main objective is to choose appropriate methods that influence product design, process design, service design, and production design. 1.5 °C Supply chain leaders have taken the initiative to reduce greenhouse gas emissions throughout the value chain, halving them by 2030 and reducing emissions to zero by 2050. Achieving a circular economy requires the integration of the three critical elements of products, processes, and systems across the three dimensions of environment, economy and social. CE has become a major paradigm shift in the way companies interact with society and the environment. The implementation of CE initiatives aims to conserve scarce resources, close energy, and material loops, and enable sustainable development at various levels of business processes. The United Nations Sustainable Development Goals (SDG) target 12.5 aims to significantly reduce waste generation through prevention, reduction, recycling, and reuse by 2030, which will require actions and strategies from various stakeholders to achieve the goals. It may take time to see the impact on the organization and society, but the timeline has already begun.