Maximizing the Retained Value of Product Recovery Based on Circular Economy Principles

2018 ◽  
pp. 181-194
Author(s):  
Eva Faja Ripanti ◽  
Benny Tjahjono
Keyword(s):  
Circular Economy ◽  
Product Recovery

A two-phase approach to efficiently support product recovery systems in a circular economy context

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ashish Dwivedi ◽  
Jitender Madaan ◽  
Ernesto D.R. Santibanez Gonzalez ◽  
Md. Abdul Moktadir
Keyword(s):  
Factor Analysis ◽  
Performance Improvement ◽  
Circular Economy ◽  
Product Recovery ◽  
Two Phase ◽  
Sustainable Practices ◽  
Policy Makers ◽  
Content Type ◽  
Company Directors ◽  
Selection Of

PurposeThe execution of product recovery strategies and the definition of an adequate system to manage its performance are crucial to move toward the employment of a successful circular economy (CE) concept. Defining strategies for the efficient management of product recovery requires product data that is difficult to obtain, making it harder to handle. However, efficient product recovery management can play a key role in shifting companies from a linear economy model to a more sustainable CE model, providing economic benefits and increasing customer satisfaction by recovering and adding value to the discarded product. Therefore, this study aims to provide better models to support decision-making and to evaluate product recovery performance.Design/methodology/approachThe present study highlights a comprehensive two-stage decision approach to identify and examine the relevant key performance indicators (KPIs) for performance improvement of an information facilitated product recovery system (IFPRS) in a CE context. In the first phase, a structural equation modeling (SEM) methodology is adopted to categorize the KPIs by employing exploratory factor analysis and measurement of the model fit is obtained using the confirmatory factor analysis. Further, in the second phase, the KPIs are ranked and prioritized on the basis of expert’s recommendations adopting fuzzy-technique for order of preference by similarity to ideal solution (FTOPSIS).FindingsEmpirical investigation is conducted by compiling data from an association of six decision-makers (DMs) and two DMs from a respective prospect. The results highlight that “Technology Capacity” is ranked as the highest and is the most prominent KPI for successful employment of IFPRS practices. The results of the study would benefit policy makers and company directors in the selection of KPIs based on their importance in a context of high competition and greater pressure to adopt sustainable practices in the management of their companies.Originality/valueAs far as the authors know, no study has been performed till date to identify and construct a structural KPIs model for IFPRS performance improvement in the context of CE. The paper, therefore, proposes a two-phase SEM-TOPSIS technique to measure the impact of KPIs which is a new integration in the existing literature. The results of the study would benefit policy makers and company directors in the selection of KPIs based on their importance in a context of high competition and greater pressure to adopt sustainable practices in managing their organizations.

scholarly journals Identification and prioritization of issues to implementation of information-facilitated product recovery system for a circular economy

2020 ◽  
Vol 2 (4) ◽  
pp. 247-280
Author(s):  
Ashish Dwivedi ◽  
Dindayal Agrawal ◽  
Jitender Madaan
Keyword(s):  
Circular Economy ◽  
Design Methodology ◽  
Product Recovery ◽  
Manufacturing Industries ◽  
Content Type ◽  
Government Organization ◽  
Recovery System ◽  
Vikor Technique ◽  
Organization Policy ◽  
Developed Nations

PurposeInformation-facilitated product recovery system (IFPRS) has captivated industry attention and has developed into a matter of consideration among the researchers because of enhanced climate concerns, jurisdictive logics and societal liabilities. Although IFPRS implementation has become an essential aspect in manufacturing industries functional in the developed nations, still, limited consideration has been given in the literature to analyze the issues to IFPRS implementation for a circular economy (CE) in emerging and developing nations. Therefore, the objective of this study is to recognize issues to implementing IFPRS for a CE in context of select manufacturing industries in India.Design/methodology/approachIn this study, 24 potential issues are established from the literature and from suggestions from the experts. The issues are clubbed under five different perspectives of technical, government, organization, policy and knowledge. Further, fuzzy VIKOR technique is applied on the results obtained to prioritize the identified issues. A sensitivity analysis has been carried out to check the robustness of the framework.FindingsThe present study shows that lack of skills and expertise in IFPRS implementation for a CE (I2), deficient capital to implement a CE in IFPRS (I9), inadequate in adopting recent IT technology (I18), feasibility of IFPRS employment for a CE (I6) and no efficient training and program to CE adoption (I21) are the top five potential issues in implementing IFPRS practices for a CE in Indian manufacturing industries.Research limitations/implicationsIn literature, limited study has been observed on determining issues to implementation of IFPRS for a CE. A more systematic method and statistical confirmation is necessary to establish further new confronting issues. This study is limited to Indian manufacturing industries.Originality/valueThe main contribution of this study includes identification of issues and later prioritizing them to reflect their severity. This would help the industry practitioners to formulate strategies for handling the issues conveniently.

Unveiling the potentials of circular economy values in logistics and supply chain management

2019 ◽  
Vol 30 (3) ◽  
pp. 723-742 ◽  
Author(s):  
Eva Faja Ripanti ◽  
Benny Tjahjono
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Reverse Logistics ◽  
Circular Economy ◽  
Closed Loop ◽  
Product Recovery ◽  
Closed Loop Supply Chain ◽  
Chain Management ◽  
Content Type ◽  
Wide Range

Purpose The purpose of this paper is to unveil the circular economy (CE) values with an ultimate goal to provide tenets in a format or structure that can potentially be used for designing a circular, closed-loop supply chain and reverse logistics. Design/methodology/approach This is desk-based research whose data were collected from relevant publication databases and other scientific resources, using a wide range of keywords and phrases associated with CE, reverse logistics, product recovery and other relevant terms. There are five main steps in the reformulation of CE principles: literature filtering, literature analysis, thematic analysis, value definition and value mapping. Findings In total, 15 CE values have been identified according to their fundamental concepts, behaviours, characteristics and theories. The values are grouped into principles, intrinsic attributes and enablers. These values can be embedded into the design process of product recovery management, reverse logistics and closed-loop supply chain. Research limitations/implications The paper contributes to the redefinition, identification and implementation of the CE values, as a basis for the transformation from a traditional to a more circular supply chain. The reformulation of the CE values will potentially affect the way supply chain and logistics systems considering the imperatives of circularity may be designed in the future. Originality/value The reformulation principles, intrinsic attributes and enablers of CE in this paper is considered innovative in terms of improving a better understanding of the notion of CE and how CE can be applied in the context of modern logistics and supply chain management.

Development trends of circular economy: Case study of Ukraine

2017 ◽  
pp. 51-66
Author(s):  
Tamara Merkulova ◽  
Kateryna Kononova ◽  
Olena Titomir
Keyword(s):  
Circular Economy ◽  
Development Trends

Transitioning Business for a Circular Economy

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Susan EVANS
Keyword(s):  
Professional Practice ◽  
Circular Economy ◽  
Radical Change ◽  
Virtual Space ◽  
Professional Experience ◽  
Operational Model ◽  
New Vision ◽  
To Come ◽  
Space Requirements

This case study explores the strategic business opportunities, for Lane Crawford, an iconic luxury department store, to transition in a circular economy towards sustainability. A new experimentation framework was developed and conducted among cross departmental employees, during a Design Lab, with intention to co-create novel Circular Economy business concepts towards a new vision: the later was a reframe of the old system based on the principles of sustainability; to move beyond a linear operational model towards a circular economy that can contribute to a regenerative society. This work draws on both academic and professional experience and was conducted through professional practice. It was found that innovative co-created concepts, output from the Design Lab, can create radical change in a circular economy that is holistically beneficial and financially viable; looking forward to extract greater value a)Internal organization requires remodeling to transform towards a circular economy; b)Requirement for more horizonal teams across departments vs solely vertical; c)New language and relationships are required to be able to transition towards a circular economy; d)Some form of physical and virtual space requirements, for cross-disciplinary teams to come together to co-create; e)Ability to iterate, learn and evolve requires agency across the business

European experience in transition to circular economy

2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Raw Materials ◽  
Action Plan ◽  
National Level ◽  
The European Union ◽  
Scientific Methods ◽  
European Experience ◽  
General Scientific ◽  
The Eu

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.

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