The Circular Economy Model is an approach that aims to provide maximum advantages from inputs in the production. Also, it tries to minimize amounts of waste. Today, the Circular Economy has integrated with sustainability closely. In this article, I will explain it with details.
The world’s limited resources are insufficient for increased production.
The increase in the world population day by day increases the global consumption. Undoubtedly, increasing global consumption is balanced by production, which is one of the most basic concepts of the economy. Companies need a lot of resources to produce and limited world resources cannot meet this need. For this reason, the concept of the circular economy model has come to the fore.
The circular economy approach is divided into three basic groups as reproduction, reuse and reverse logistics.
The circular economy approach is divided into three basic groups. First one is reverse logistics which ensures that products and materials are collected and included in production. Second one is reuse which allows the use of waste material in one sector as an input in another sector.Last one is remanufacturing which allows the used product to be reactivated after certain stages. Especially reverse logistics is a sustainable method that companies try to implement today.
Today, most countries have started to adopt the circular economy model.
Recently, countries have started to realize the importance of the circular economy. Therefore, they worked on issues such as waste management, recycling and reverse logistics. We can say that awareness is very high especially in Europe and Scandinavian countries. On the other hand, this has been a compelling factor for companies. Global companies operating in countries that adopt circular economy models have designed their production within the framework of sustainability. Thus, they took important steps in the fields of waste management, water saving and recycling.