scholarly journals Application of digital technologies for sustainable product management in a circular economy – a review

2021 ◽  
Author(s):  
Magdalena Rusch ◽  
Josef Peter Schöggl ◽  
Rupert J. Baumgartner
Keyword(s):  
Circular Economy ◽  
Product Life Cycle ◽  
Business Models ◽  
Qualitative Content Analysis ◽  
Digital Technologies ◽  
Product Management ◽  
Comprehensive Overview ◽  
Design Assessment ◽  
Sustainable Product ◽  
The Internet Of Things

Digital technologies (DTs), such as the internet of things, big data, artificial intelligence or blockchain, are considered as enablers for a more sustainable and circular economy. So far, literature on these topics has mostly focused on specific DTs and sub-areas of sustainable product management (SPM). The aim of this paper is to provide a more comprehensive overview of current and potential examples of DT applications in SPM (e.g., product design/assessment, supply chain management, business models). The collected examples (n=146) were analyzed based on a systematic literature review, using quantitative and qualitative content analysis. Deductive and inductive analyses of the examples revealed the potential of DTs in terms of their useability along the product life cycle, their role as enablers for circular economy strategies and in specific SPM activities. DT application often entails only incremental improvements, e.g., increased efficiency of existing processes, with more radical forms of improvement remaining relatively scarce. There is clear room for greater adoption and optimization of DTs, in various areas of SPM, so as to accelerate the transition towards a more sustainable and circular economy.

“Enabling circular business models in the fashion industry: the role of digital innovation”

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Phuc Hong Huynh
Keyword(s):  
Business Model ◽  
Circular Economy ◽  
Business Models ◽  
Digital Technologies ◽  
Theory And Practice ◽  
Chain Model ◽  
Fashion Industry ◽  
Digital Innovation ◽  
Content Type ◽  
Radical Innovations

PurposeDigital innovation and circular business model innovation are two critical enablers of a circular economy. A wide variety of digital technologies such as blockchain, 3D printing, cyber-physical systems, or big data also diverges the applications of digital technologies in circular business models. Given heterogeneous attributes of circular business models and digital technologies, the selections of digital technologies and circular business models might be highly distinctive within and between sectorial contexts. This paper examines digital circular business models in the context of the fashion industry and its multiple actors. This industry as the world’s second polluting industry requires an urgent circular economy (CE) transition with less resource consumption, lower waste emissions and a more stable economy.Design/methodology/approachAn inductive, exploratory multiple-case study method is employed to investigate the ten cases of different sized fashion companies (i.e. large, small medium-sized firm (SME) and startup firms). The comparison across cases is conducted to understand fashion firms' distinct behaviours in adopting various digital circular economy strategies.FindingsThe paper presents three archetypes of digital-based circular business models in the fashion industry: the blockchain-based supply chain model, the service-based model and the pull demand-driven model. Besides incremental innovations, the radical business model and digital innovations as presented in the pull demand-driven model may be crucial to the fashion circular economy transition. The pull demand–driven model may shift the economy from scales to scopes, change the whole process of how the fashion items are forecasted, produced, and used, and reform consumer behaviours. The paths of adopting digital fashion circular business models are also different among large, SMEs and startup fashion firms.Practical implicationsThe study provides business managers with empirical insights on how circular business models (CBMs) should be chosen according to intrinsic business capacities, technological competences and CE strategies. The emerging trends of new fashion markets (e.g. rental, subscription) and consumers' sustainable awareness should be not be neglected. Moreover, besides adopting recycling and reuse strategies, large fashion incumbents consider collaborating with other technology suppliers and startup companies to incubate more radical innovations.Social implicationsAppropriate policies and regulations should be enacted to enable the digital CE transition. Market patterns and consumer acceptances are considered highly challenging to these digital fashion models. A balanced policy on both the demand and supply sides are suggested. The one-side policy may fail CBMs that entail an upside-down collaboration of both producers and consumers. Moreover, it is perhaps time to rethink how to reduce unnecessary new demand rather than repeatedly producing and recycling.Originality/valueThe pace of CE research is lagging far behind the accelerating environmental contamination by the fashion industry. The study aims to narrow the gap between theory and practice to harmonise fashion firms' orchestration and accelerate the transition of the fashion industry towards the CE. This study examines diverse types of digital technologies in different circular business models in a homogeneous context of the fashion industry with heterogeneous firm types.

scholarly journals How digitalization affects insurance companies: overview and use cases of digital technologies

2020 ◽  
Author(s):  
Christian Eckert ◽  
Katrin Osterrieder
Keyword(s):  
Business Models ◽  
Insurance Industry ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Use Cases ◽  
Insurance Companies ◽  
Comprehensive Overview ◽  
Industry Studies ◽  
Digital Strategy ◽  
It Departments

Abstract The digital transformation is of increasing relevance for insurance companies’ business models. It leads to opportunities as well as challenges, especially for IT departments as core enablers or preventers. Against this background, the aim of this paper is to provide a comprehensive overview of digital technologies (e.g., artificial intelligence, cloud computing) and the resulting use cases for the insurance industry. To this end, we conduct a review of academic articles, industry studies and publications of the supervisory authorities. We point to the resulting requirements for an insurer’s IT and find many interdependencies between the digital technologies. Our results therefore emphasize the importance of a holistic digital strategy.

scholarly journals Developing a Digital Entrepreneurial Mindset for Data-Driven, Cloud-Enabled, and Platform-Centric Business Activities: Practical Implications and the Impact on Society

2020 ◽  
pp. 3-21
Author(s):  
Mariusz Soltanifar ◽  
Edin Smailhodžić
Keyword(s):  
Business Models ◽  
Digital Technologies ◽  
Data Driven ◽  
The Internet ◽  
Success Stories ◽  
Challenges And Opportunities ◽  
Definition Of ◽  
The Impact ◽  
The Internet Of Things ◽  
Practical Implications

AbstractThe term ‘digital’ concerns not only technology but also people. This chapter emphasises the necessity of adopting a digital entrepreneurial mindset when operating in a digitised world. The chapter proposes a definition of a digital entrepreneurial mindset that is rooted in cognitive psychology, organisation theory and entrepreneurship literature. We also focus on the five trends that are shaping the digital future: mobile computing, cloud computing, social media, the Internet of Things and Big Data. The chapter discusses the challenges and opportunities that pervasive digitalisation offers for designing new digital business models and changing interactions with customers. Discussing the success stories of Domino’s Tesco and Tate Art Galleries helps to examine data-driven, cloud-enabled, platform-centric business activities, for which developing a digital entrepreneurial mindset is the first step towards success in the digital age. Collectively, the aforementioned cases suggest that businesses that rely on a digital entrepreneurial mindset enjoy better financial performance. Both managers and employees in these companies have shown the inclination and ability to discover, evaluate and exploit opportunities emerging from digital technologies. This chapter also provides a practical guide for entrepreneurs on the steps they can take to encourage a digital entrepreneurial mindset throughout their entire organisations. Finally, we elaborate on the practical implications of adopting a digital entrepreneurial mindset and its impact on society.

Innovative Product Management Driving Enhanced Customer Experience Management (CEM)

2015 ◽  
Vol 8 (1) ◽  
Author(s):  
Niladri Shekhar Dutta
Keyword(s):  
Balanced Scorecard ◽  
Value Chain ◽  
Product Life Cycle ◽  
Business Models ◽  
Market Competition ◽  
Value Added ◽  
Customer Experience ◽  
Product Management ◽  
Innovative Product ◽  
Customer Experience Management

Customer Experience Management (CEM) has been a buzzword in both demand and supply side dynamics of the Telecom value chain. However emphasis is being given around CEM, it never feels just enough! Telecom ISPs are looking to generate more awareness of revenue generation and realization, so that it not only is about the increase of top line but also about consolidation of various products and services, almost being an aggregator at one stage to deliver with the help of a single service delivery platform. In other words, what is commonly known as VAS-Value added services in the industry. The key to this is real innovation, of newer ideas and productizing these concepts to market. For innovative product management, Telcos are opting to look for value added services, value added delivery as well as enhanced business models and operational frameworks. This is primarily done to carve out an innovation which leads to a differentiator non-existent in the market. A very common, yet unique one such concept can be the Balanced Scorecard perspective and mapping these different perspectives into various domains of a Telecom business. These are obviously very common in present days and widely used by all Telcos to arrive at a definitive decision for any strategic cause. It can be mapped to perspectives ranging from financial, customer-centricity and orientation, internal process management, functionality & delivery, lastly internal learning & growth. We need to understand the context of innovation of products & services under all of these above perspectives. This will give us immense clarity in creating such a differentiated offering to render enhanced Customer experience for better sustainability and thus thriving on market competition. Each layer of a Telco enterprise set up follows specific blueprint, whether its the business or operations or technology. This will ensure that all company strategies which are focused towards creating and delivering differentiated offerings and delivery are being realized appropriately hence the delta of perception versus reality is minimized to a great extent. This would definitely increase customer experience in all possible forms. Product life cycle management which forms the heart of CEM, should be certainly driven by cost of sale as well as price of product. Both of these parameters should be populated through a Balanced scorecard from a financial perspective to decide on a go-no go decision for concepts to be marketed in a Telco. These need to be realized through specific derivatives of business processes following best practices to ensure enhanced customer experience and better delivery of services to the end customer. Perhaps, the most important

scholarly journals The role of digital technologies to overcome Circular Economy challenges in PSS Business Models: an exploratory case study

Procedia CIRP ◽  
2018 ◽  
Vol 73 ◽  
pp. 216-221 ◽  
Author(s):  
Gianmarco Bressanelli ◽  
Federico Adrodegari ◽  
Marco Perona ◽  
Nicola Saccani
Keyword(s):  
Circular Economy ◽  
Business Models ◽  
Digital Technologies ◽  
Exploratory Case Study

Digitisation and Sustainable Development: The Opportunities and Risks of Using Digital Technologies for the Implementation of a Circular Economy

2021 ◽  
Vol 7 (1) ◽  
pp. 17-23
Author(s):  
Benjamin Kottmeyer
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Business Models ◽  
Research Question ◽  
Digital Technologies ◽  
Theory And Practice ◽  
Social Outcomes ◽  
Social Progress ◽  
Future Research ◽  
Critical Social

Digitisation is developing a transformational potential that is profoundly changing people, our societies and the planet. Like any major societal transformation, it offers both, significant opportunities for progress and significant risks with harmful consequences for societies. This paper, therefore, addresses the question: ‘What are the critical social outcomes and concerns flowing from the advances in digitisation on our work environment?’ To discuss the broad research question in sufficient depth, this paper focuses not only on specific critical social outcomes of digitisation but also on how some of them can be mitigated by combining digital tools with the concept of a circular economy (representing the abstract idea of sustainable development). The implementation of blockchain technologies and new business models shows that digital technologies have the potential to close the realisation gap between theory and practice of the circular economy concept by enhancing the information flow and the communication between stakeholders in the value chain. Nonetheless, the implementation of these technologies also entails social and economic risks, such as power abuse or regulatory arbitrage, which should be considered in advance. To avoid jeopardising digital innovations, future research should therefore develop a more holistic and interdisciplinary understanding of the complex interactions to exploit the potential of digitisation for social progress.

scholarly journals Closed Product Life Cycle as a Basis of the Circular Economy

2021 ◽  
Vol 5 (4) ◽  
pp. 36-50
Author(s):  
Maria Vetrova ◽  
Dinara Ivanova
Keyword(s):  
Decision Making ◽  
Life Cycle ◽  
Supply Chains ◽  
Circular Economy ◽  
Product Life Cycle ◽  
Digital Technologies ◽  
Economic Feasibility ◽  
Decision Support Model ◽  
Product Life ◽  
The Impact

Objective – The circular economy aims to preserve the value of products and materials within a closed supply chain. The existing models and decision-making methods for managing the end of the product life cycle are mostly focused on the economic aspects. While the circular economy is aimed at combining environmental, economic and social goals. This article aims to develop a model for enterprise decision-making on the disposal of used products, taking into account socio-environmental and economic factors. Methodology/Technique – The article analyzes the impact of digital technologies on the formation of closed supply chains and the development of a circular economy. At the same time, special attention is focused on the model of a closed product life cycle, as a fundamental element in the formation of a circular economy at the micro and nano levels, as well as the importance of using digital technologies at all stages of the product life cycle. Findings –The methods of product management at the end of the life cycle studied in the article have made it possible to form a simulation decision support model regarding the method of product disposal, taking into account environmental and economic feasibility. Novelty – This study identified the main trends in the development of closed supply chains under the influence of digital technologies in the context of a circular economy. Type of Paper: Review JEL Classification: F42, F43 Keywords: Circular Economy; Digital Technology; Decision-making Model; Closed-loop Supply Chains Reference to this paper should be made as follows: Vetrova, M; Ivanova, D. (2021). Closed Product Life Cycle as a Basis of the Circular Economy, Journal of Business and Economics Review, 5(4) 36–50. https://doi.org/10.35609/jber.2021.5.4(4)

scholarly journals Circular economy management in business organizations using digital technologies

2021 ◽  
Vol 6 (1) ◽  
pp. 22-29
Author(s):  
Angelina Pavlović ◽  
Snežana Nestić ◽  
Goran Bošković
Keyword(s):  
Circular Economy ◽  
Economic Model ◽  
Business Models ◽  
Digital Technologies ◽  
Business Environment ◽  
Model Management ◽  
Full Potential ◽  
Business Organization ◽  
Business Organizations ◽  
Efficiency And Productivity

The circular economic model management in business organizations around the world depends on the emergence of innovations in technology, organizational forms and business models. The level of circularity of a business organization largely depends on the development of digital technologies. In a real dynamic business environment, digital technologies can be applied to capture the full potential of circular strategies for improving resource efficiency and productivity. By applying digital technology in business organizations, it is possible to monitor the process of transition of a linear economic model to a circular economic model. Therefore, this paper aims to review developed digital tools, which can be used to monitor the circular economy at the level of a business organization, in order to improve the decision-making process in the analyzed area.

scholarly journals Integration of resources and regeneration of the biosystem in the concept of development of circular economy

2019 ◽  
pp. 74-86
Author(s):  
Roman Zvarych ◽  
Iryna Zvarych
Keyword(s):  
Economic Development ◽  
Waste Management ◽  
Circular Economy ◽  
Product Life Cycle ◽  
Business Models ◽  
System Analysis ◽  
Raw Material ◽  
Growth Effect ◽  
Waste Products ◽  
Circular System

Introduction. The scale of the risks, threats, and consequently the challenges of reducing and improving the efficiency of waste management, provides significant business opportunities. The circular system enables efficient movement of materials, energy, labor and information for the purpose of restoring natural and social capital. The circular economy should be part of efforts to boost economic development, overcome wasteful consumption and reduce undemocratic power structures in the global economy. Hence, the topic is relevant and needs appropriate research. Purpose. The purpose of the article is to research the biophysical environment of the circular system, the level of integration of resources and the regeneration of the biosystem in the concept of development of the circular economy. Methods. Research methods of problems related to the concept of circular economy development are based on general and specific methods of studying economic processes, phenomena and facts concerning the integration of resources and regeneration of the biosystem. This research uses monographic and graphical methods, methods of system analysis, systematization, classification, logical, theoretical and generalizations (in research the integration of resources and regeneration of the biosystem in the concept of development of circular economy). Results. The world economy meets the demand of the population in all continents at affordable prices, which gives consumers a much higher level of material comfort. The manufacturing industry transforms resources into an extremely large number of products and uses natural resources to produce waste products at the first need. It is relevant to break the product life cycle chain: “raw material-product-dust” and to change the linear economy. The basis for a new system – alternative to linear economy can be system that base on three principles: design waste and pollution; save products and materials in use; regeneration of the natural system. The circular economy is a systematic approach to economic development that can benefit business, society and the environment. The authors believe that, unlike the linear “raw material-product-dust” model, the circular economy model is regenerative in design and aims to gradually reduce the growth effect of the consumption of scarce resources. Accordingly, the circular approach provides systematic changes of everyone and everything: enterprises, governments and individuals; cities, products and jobs. Discussion. Further scientific researches of circular economy concept development, integration of resources, biosystem regeneration, evaluation of circular business models should be based on the current national and foreign methodology and organization of evaluation of the circularity of economy, its concepts and variations. Further studies should widely apply methods of operational and strategic forecasting and modelling of the enterprise waste management system, etc.

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